diff --git a/python/CHANGELOG.md b/python/CHANGELOG.md
index c359f6152c..433f65b864 100644
--- a/python/CHANGELOG.md
+++ b/python/CHANGELOG.md
@@ -7,6 +7,27 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+## [1.16.0] - 2026-08-27
+
+### Added
+- **agent-framework-core**: Add configurable timeouts for waiting on the first background-agent task completion ([#7908](https://github.com/microsoft/agent-framework/pull/7908))
+- **agent-framework-core**: Allow programmatic OpenTelemetry service metadata, resource attributes, and OTLP exporter configuration ([#7703](https://github.com/microsoft/agent-framework/pull/7703))
+
+### Changed
+- **agent-framework-foundry-hosting**: Update Agent Server dependencies and expose parent `FoundryToolbox` constructor options ([#7921](https://github.com/microsoft/agent-framework/pull/7921))
+- **samples**: Apply ChatKit attachment lifecycle checks consistently in the end-to-end sample ([#7846](https://github.com/microsoft/agent-framework/pull/7846))
+
+### Fixed
+- **agent-framework-ag-ui**, **agent-framework-foundry-hosting**: Preserve backend-owned service-session snapshots and validate incremental provider continuation input ([#7770](https://github.com/microsoft/agent-framework/pull/7770))
+- **agent-framework-anthropic**, **agent-framework-mistral**: Preserve unmapped provider finish reasons ([#7850](https://github.com/microsoft/agent-framework/pull/7850))
+- **agent-framework-azure-ai-search**: Preserve the kinds of heterogeneous knowledge sources ([#7875](https://github.com/microsoft/agent-framework/pull/7875))
+- **agent-framework-core**: Prevent workflow checkpoints from being mutated outside storage implementations ([#7847](https://github.com/microsoft/agent-framework/pull/7847))
+- **agent-framework-core**: Discard unsafe `Content` fields during deep copy ([#7903](https://github.com/microsoft/agent-framework/pull/7903))
+- **agent-framework-core**: Avoid mutating caller input in `SerializationMixin.from_dict()` ([#7901](https://github.com/microsoft/agent-framework/pull/7901))
+- **agent-framework-core**: Keep the private agent-loop iteration marker out of provider SDK requests ([#7860](https://github.com/microsoft/agent-framework/pull/7860))
+- **agent-framework-gemini**: Preserve unmapped finish reasons and attach usage details to the correct response ([#7837](https://github.com/microsoft/agent-framework/pull/7837))
+- **agent-framework-openai**: Preserve streaming when GenAI instrumentation replaces the raw SDK response ([#7705](https://github.com/microsoft/agent-framework/pull/7705))
+
 ## [1.15.0] - 2026-08-21
 
 ### Added
@@ -1555,7 +1576,8 @@ Release candidate for **agent-framework-core** and **agent-framework-azure-ai**
 
 For more information, see the [announcement blog post](https://devblogs.microsoft.com/foundry/introducing-microsoft-agent-framework-the-open-source-engine-for-agentic-ai-apps/).
 
-[Unreleased]: https://github.com/microsoft/agent-framework/compare/python-1.15.0...HEAD
+[Unreleased]: https://github.com/microsoft/agent-framework/compare/python-1.16.0...HEAD
+[1.16.0]: https://github.com/microsoft/agent-framework/compare/python-1.15.0...python-1.16.0
 [1.15.0]: https://github.com/microsoft/agent-framework/compare/python-1.14.0...python-1.15.0
 [1.14.0]: https://github.com/microsoft/agent-framework/compare/python-1.13.0...python-1.14.0
 [1.13.0]: https://github.com/microsoft/agent-framework/compare/python-1.12.1...python-1.13.0
diff --git a/python/packages/ag-ui/pyproject.toml b/python/packages/ag-ui/pyproject.toml
index 9c34024f46..7314eb2811 100644
--- a/python/packages/ag-ui/pyproject.toml
+++ b/python/packages/ag-ui/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "agent-framework-ag-ui"
-version = "1.2.0"
+version = "1.2.1"
 description = "AG-UI protocol integration for Agent Framework"
 readme = "README.md"
 license-files = ["LICENSE"]
diff --git a/python/packages/anthropic/pyproject.toml b/python/packages/anthropic/pyproject.toml
index 221133e3a2..91ff291910 100644
--- a/python/packages/anthropic/pyproject.toml
+++ b/python/packages/anthropic/pyproject.toml
@@ -4,7 +4,7 @@ description = "Anthropic integration for Microsoft Agent Framework."
 authors = [{ name = "Microsoft", email = "af-support@microsoft.com"}]
 readme = "README.md"
 requires-python = ">=3.10"
-version = "1.0.0b260821"
+version = "1.0.0b260827"
 license-files = ["LICENSE"]
 urls.homepage = "https://aka.ms/agent-framework"
 urls.source = "https://github.com/microsoft/agent-framework/tree/main/python"
diff --git a/python/packages/azure-ai-search/pyproject.toml b/python/packages/azure-ai-search/pyproject.toml
index 8a1b6b567e..2c15744dd9 100644
--- a/python/packages/azure-ai-search/pyproject.toml
+++ b/python/packages/azure-ai-search/pyproject.toml
@@ -4,7 +4,7 @@ description = "Azure AI Search integration for Microsoft Agent Framework."
 authors = [{ name = "Microsoft", email = "af-support@microsoft.com"}]
 readme = "README.md"
 requires-python = ">=3.10"
-version = "1.0.0b260813"
+version = "1.0.0b260827"
 license-files = ["LICENSE"]
 urls.homepage = "https://aka.ms/agent-framework"
 urls.source = "https://github.com/microsoft/agent-framework/tree/main/python"
diff --git a/python/packages/core/pyproject.toml b/python/packages/core/pyproject.toml
index d3b28c529d..6d5b28f7dc 100644
--- a/python/packages/core/pyproject.toml
+++ b/python/packages/core/pyproject.toml
@@ -4,7 +4,7 @@ description = "Microsoft Agent Framework for building AI Agents with Python. Thi
 authors = [{ name = "Microsoft", email = "af-support@microsoft.com"}]
 readme = "README.md"
 requires-python = ">=3.10"
-version = "1.15.0"
+version = "1.16.0"
 license-files = ["LICENSE"]
 urls.homepage = "https://aka.ms/agent-framework"
 urls.source = "https://github.com/microsoft/agent-framework/tree/main/python"
diff --git a/python/packages/foundry_hosting/pyproject.toml b/python/packages/foundry_hosting/pyproject.toml
index 4ac7862b0a..df945d7a68 100644
--- a/python/packages/foundry_hosting/pyproject.toml
+++ b/python/packages/foundry_hosting/pyproject.toml
@@ -4,7 +4,7 @@ description = "Foundry Hosting integration for Microsoft Agent Framework."
 authors = [{ name = "Microsoft", email = "af-support@microsoft.com"}]
 readme = "README.md"
 requires-python = ">=3.10"
-version = "1.0.0b260821"
+version = "1.0.0b260827"
 license-files = ["LICENSE"]
 urls.homepage = "https://aka.ms/agent-framework"
 urls.source = "https://github.com/microsoft/agent-framework/tree/main/python"
diff --git a/python/packages/gemini/pyproject.toml b/python/packages/gemini/pyproject.toml
index 5822617767..bd1c4784da 100644
--- a/python/packages/gemini/pyproject.toml
+++ b/python/packages/gemini/pyproject.toml
@@ -4,7 +4,7 @@ description = "Google Gemini integration for Microsoft Agent Framework."
 authors = [{ name = "Microsoft", email = "af-support@microsoft.com"}]
 readme = "README.md"
 requires-python = ">=3.10"
-version = "1.0.0b260813"
+version = "1.0.0b260827"
 license-files = ["LICENSE"]
 urls.homepage = "https://aka.ms/agent-framework"
 urls.source = "https://github.com/microsoft/agent-framework/tree/main/python"
diff --git a/python/packages/mistral/pyproject.toml b/python/packages/mistral/pyproject.toml
index 86ba721eea..04cadd5c35 100644
--- a/python/packages/mistral/pyproject.toml
+++ b/python/packages/mistral/pyproject.toml
@@ -4,7 +4,7 @@ description = "Mistral AI integration for Microsoft Agent Framework."
 authors = [{ name = "Microsoft", email = "af-support@microsoft.com"}]
 readme = "README.md"
 requires-python = ">=3.10"
-version = "1.0.0b260813"
+version = "1.0.0b260827"
 license-files = ["LICENSE"]
 urls.homepage = "https://learn.microsoft.com/en-us/agent-framework/"
 urls.source = "https://github.com/microsoft/agent-framework/tree/main/python"
diff --git a/python/packages/openai/pyproject.toml b/python/packages/openai/pyproject.toml
index 4fb486e1a4..e1a7fcd7a9 100644
--- a/python/packages/openai/pyproject.toml
+++ b/python/packages/openai/pyproject.toml
@@ -4,7 +4,7 @@ description = "OpenAI integrations for Microsoft Agent Framework."
 authors = [{ name = "Microsoft", email = "af-support@microsoft.com"}]
 readme = "README.md"
 requires-python = ">=3.10"
-version = "1.14.0"
+version = "1.14.1"
 license-files = ["LICENSE"]
 urls.homepage = "https://aka.ms/agent-framework"
 urls.source = "https://github.com/microsoft/agent-framework/tree/main/python"
diff --git a/python/pyproject.toml b/python/pyproject.toml
index 144126b861..4f4bb7bc4b 100644
--- a/python/pyproject.toml
+++ b/python/pyproject.toml
@@ -4,7 +4,7 @@ description = "Microsoft Agent Framework for building AI Agents with Python. Thi
 authors = [{ name = "Microsoft", email = "af-support@microsoft.com"}]
 readme = "README.md"
 requires-python = ">=3.10"
-version = "1.15.0"
+version = "1.16.0"
 license-files = ["LICENSE"]
 urls.homepage = "https://aka.ms/agent-framework"
 urls.source = "https://github.com/microsoft/agent-framework/tree/main/python"
@@ -23,7 +23,7 @@ classifiers = [
   "Typing :: Typed",
 ]
 dependencies = [
-    "agent-framework-core[all]==1.15.0",
+    "agent-framework-core[all]==1.16.0",
 ]
 
 [dependency-groups]
diff --git a/python/uv.lock b/python/uv.lock
index 371e4c7396..8a0397c761 100644
--- a/python/uv.lock
+++ b/python/uv.lock
@@ -124,7 +124,7 @@ wheels = [
 
 [[package]]
 name = "agent-framework"
-version = "1.15.0"
+version = "1.16.0"
 source = { virtual = "." }
 dependencies = [
     { name = "agent-framework-core", extra = ["all"] },
@@ -206,7 +206,7 @@ requires-dist = [
 
 [[package]]
 name = "agent-framework-ag-ui"
-version = "1.2.0"
+version = "1.2.1"
 source = { editable = "packages/ag-ui" }
 dependencies = [
     { name = "ag-ui-protocol" },
@@ -248,7 +248,7 @@ test = [{ name = "agent-framework-orchestrations", editable = "packages/orchestr
 
 [[package]]
 name = "agent-framework-anthropic"
-version = "1.0.0b260821"
+version = "1.0.0b260827"
 source = { editable = "packages/anthropic" }
 dependencies = [
     { name = "agent-framework-core" },
@@ -263,7 +263,7 @@ requires-dist = [
 
 [[package]]
 name = "agent-framework-azure-ai-search"
-version = "1.0.0b260813"
+version = "1.0.0b260827"
 source = { editable = "packages/azure-ai-search" }
 dependencies = [
     { name = "agent-framework-core" },
@@ -428,7 +428,7 @@ requires-dist = [
 
 [[package]]
 name = "agent-framework-core"
-version = "1.15.0"
+version = "1.16.0"
 source = { editable = "packages/core" }
 dependencies = [
     { name = "msgspec" },
@@ -629,7 +629,7 @@ requires-dist = [
 
 [[package]]
 name = "agent-framework-foundry-hosting"
-version = "1.0.0b260821"
+version = "1.0.0b260827"
 source = { editable = "packages/foundry_hosting" }
 dependencies = [
     { name = "agent-framework-core" },
@@ -669,7 +669,7 @@ requires-dist = [
 
 [[package]]
 name = "agent-framework-gemini"
-version = "1.0.0b260813"
+version = "1.0.0b260827"
 source = { editable = "packages/gemini" }
 dependencies = [
     { name = "agent-framework-core" },
@@ -907,7 +907,7 @@ requires-dist = [
 
 [[package]]
 name = "agent-framework-mistral"
-version = "1.0.0b260813"
+version = "1.0.0b260827"
 source = { editable = "packages/mistral" }
 dependencies = [
     { name = "agent-framework-core" },
@@ -952,7 +952,7 @@ requires-dist = [
 
 [[package]]
 name = "agent-framework-openai"
-version = "1.14.0"
+version = "1.14.1"
 source = { editable = "packages/openai" }
 dependencies = [
     { name = "agent-framework-core" },