diff --git a/version.php b/version.php
index 3487251a39b..3fe9c0e5b07 100644
--- a/version.php
+++ b/version.php
@@ -29,9 +29,9 @@
 
 defined('MOODLE_INTERNAL') || die();
 
-$version  = 2024100704.02;              // 20241007      = branching date YYYYMMDD - do not modify!
+$version  = 2024100704.03;              // 20241007      = branching date YYYYMMDD - do not modify!
                                         //         RR    = release increments - 00 in DEV branches.
                                         //           .XX = incremental changes.
-$release  = '4.5.4+ (Build: 20250424)';    // Human-friendly version name
+$release  = '4.5.4+ (Build: 20250502)';    // Human-friendly version name
 $branch   = '405';                      // This version's branch.
 $maturity = MATURITY_STABLE;            // This version's maturity level.