diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 3b9bce42c3..86b1c4427a 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -6,7 +6,7 @@
 	"sdk/@launchdarkly/flutter/packages/observability": "0.13.0",
 	"sdk/@launchdarkly/observability-dotnet": "1.2.0",
 	"sdk/@launchdarkly/observability-node": "1.2.0",
-	"sdk/@launchdarkly/observability-python": "1.2.4",
+	"sdk/@launchdarkly/observability-python": "1.3.0",
 	"sdk/@launchdarkly/observability-react-native": "0.17.1",
 	"sdk/@launchdarkly/react-native-ld-session-replay": "0.21.0",
 	"sdk/@launchdarkly/session-replay": "1.1.17",
diff --git a/sdk/@launchdarkly/observability-python/CHANGELOG.md b/sdk/@launchdarkly/observability-python/CHANGELOG.md
index 8f594ac099..e5395f6d48 100644
--- a/sdk/@launchdarkly/observability-python/CHANGELOG.md
+++ b/sdk/@launchdarkly/observability-python/CHANGELOG.md
@@ -2,6 +2,13 @@
 
 All notable changes to the LaunchDarkly Python Observability will be documented in this file. This project adheres to Semantic Versioning.
 
+## [1.3.0](https://github.com/launchdarkly/observability-sdk/compare/launchdarkly-observability-python-1.2.4...launchdarkly-observability-python-1.3.0) (2026-07-30)
+
+
+### Features
+
+* **python:** report source context for recorded exceptions ([#693](https://github.com/launchdarkly/observability-sdk/issues/693)) ([54aa031](https://github.com/launchdarkly/observability-sdk/commit/54aa0315f864e45d02bde7088a032cff42236d0f))
+
 ## [1.2.4](https://github.com/launchdarkly/observability-sdk/compare/launchdarkly-observability-python-1.2.3...launchdarkly-observability-python-1.2.4) (2026-06-22)
 
 
diff --git a/sdk/@launchdarkly/observability-python/PROVENANCE.md b/sdk/@launchdarkly/observability-python/PROVENANCE.md
index 58055764b6..173ef59260 100644
--- a/sdk/@launchdarkly/observability-python/PROVENANCE.md
+++ b/sdk/@launchdarkly/observability-python/PROVENANCE.md
@@ -9,7 +9,7 @@ To verify SLSA provenance attestations, we recommend using [slsa-verifier](https
 <!-- x-release-please-start-version -->
 ```
 # Set the version of the SDK to verify
-PLUGIN_VERSION=1.2.4
+PLUGIN_VERSION=1.3.0
 ```
 <!-- x-release-please-end -->
 
diff --git a/sdk/@launchdarkly/observability-python/pyproject.toml b/sdk/@launchdarkly/observability-python/pyproject.toml
index 8d50428ec2..09278c2084 100644
--- a/sdk/@launchdarkly/observability-python/pyproject.toml
+++ b/sdk/@launchdarkly/observability-python/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "launchdarkly-observability"
-version = "1.2.4"
+version = "1.3.0"
 description = "LaunchDarkly Observability for Python"
 license = "Apache-2.0"
 authors = [