diff --git a/CHANGELOG.MD b/CHANGELOG.MD
index 4d0586bd..a930ae88 100644
--- a/CHANGELOG.MD
+++ b/CHANGELOG.MD
@@ -2,6 +2,13 @@
 
 Date format: (year/month/day)
 
+### Version 5.3.8 (2023/12/29)
+
+**Improvements**
+- [#719](https://github.com/NLog/NLog.Extensions.Logging/pull/719): Fixed IncludeActivityIdsWithBeginScope to work with NET 8.0 (#719) (@Owen-Krueger)
+- [#714](https://github.com/NLog/NLog.Extensions.Logging/pull/714): UseNLog includes EnvironmentName when loading NLog config (#714) (@snakefoot)
+- [#720](https://github.com/NLog/NLog.Extensions.Logging/pull/720): Updated to NLog v5.2.8 (#720) (@Osnakefoot)
+
 ### Version 5.3.7 (2023/12/06)
 
 **Improvements**
diff --git a/build.ps1 b/build.ps1
index a8c1643a..a55409a2 100644
--- a/build.ps1
+++ b/build.ps1
@@ -2,7 +2,7 @@
 # creates NuGet package at \artifacts
 dotnet --version
 
-$versionPrefix = "5.3.7"
+$versionPrefix = "5.3.8"
 $versionSuffix = ""
 $versionFile = $versionPrefix + "." + ${env:APPVEYOR_BUILD_NUMBER}
 $versionProduct = $versionPrefix;
diff --git a/src/NLog.Extensions.Logging/NLog.Extensions.Logging.csproj b/src/NLog.Extensions.Logging/NLog.Extensions.Logging.csproj
index 0bdd0f6e..b8927a09 100644
--- a/src/NLog.Extensions.Logging/NLog.Extensions.Logging.csproj
+++ b/src/NLog.Extensions.Logging/NLog.Extensions.Logging.csproj
@@ -18,9 +18,9 @@ For ASP.NET Core, check: https://www.nuget.org/packages/NLog.Web.AspNetCore
     <PackageReleaseNotes>
 ChangeLog:
 
-- Added target platform for NET 8.0 (#705) (@snakefoot)
-- Improve XML docs for AddNLog and UseNLog (#710) (@snakefoot)
-- Updated to NLog v5.2.7 (#713) (@snakefoot)
+- Fixed IncludeActivityIdsWithBeginScope to work with NET 8.0 (#719) (@Owen-Krueger)
+- UseNLog includes EnvironmentName when loading NLog config (#714) (@snakefoot)
+- Updated to NLog v5.2.8 (#720) (@Osnakefoot)
 
 Full changelog: https://github.com/NLog/NLog.Extensions.Logging/blob/master/CHANGELOG.MD
 
@@ -83,7 +83,7 @@ List of major changes in NLog 5.0: https://nlog-project.org/2021/08/25/nlog-5-0-
   </PropertyGroup>
   
   <ItemGroup>
-    <PackageReference Include="NLog" Version="5.2.7" />
+    <PackageReference Include="NLog" Version="5.2.8" />
     <PackageReference Include="Microsoft.SourceLink.GitHub" Version="8.0.0" PrivateAssets="All" />
   </ItemGroup>
   <ItemGroup Condition=" '$(TargetFramework)' == 'net461' ">