diff --git a/CHANGELOG.rst b/CHANGELOG.rst
index fc8e4a7e8d2..7454fe4103a 100644
--- a/CHANGELOG.rst
+++ b/CHANGELOG.rst
@@ -4,6 +4,19 @@ amazon.aws Release Notes
 
 .. contents:: Topics
 
+v6.5.4
+======
+
+Release Summary
+---------------
+
+This release includes bugfixes for the ``cloudwatchlogs_log_group_info`` module and the inventory plugins.
+
+Bugfixes
+--------
+
+- cloudwatchlogs_log_group_info - Implement exponential backoff when making API calls to prevent throttling exceptions (https://github.com/ansible-collections/amazon.aws/issues/2011).
+- plugin_utils.inventory - Ensure templated options in lookup plugins are converted (https://github.com/ansible-collections/amazon.aws/issues/1955).
 
 v6.5.3
 ======
@@ -63,7 +76,6 @@ Release Summary
 This release is the last planned minor release of ``amazon.aws`` prior to the release of 7.0.0.
 It includes documentation fixes as well as minor changes and bug fixes for the ``ec2_ami`` and ``elb_application_lb_info`` modules.
 
-
 Minor Changes
 -------------
 
@@ -371,7 +383,6 @@ Release Summary
 
 This release contains a number of bugfixes, new features and new modules.  This is the last planned minor release prior to the release of version 6.0.0.
 
-
 Minor Changes
 -------------
 
@@ -466,7 +477,6 @@ Release Summary
 
 A minor release containing bugfixes for the ``ec2_eni_info`` module and the ``aws_rds`` inventory plugin, as well as improvements to the ``rds_instance`` module.
 
-
 Minor Changes
 -------------
 
@@ -690,7 +700,6 @@ Release Summary
 
 This release contains a minor bugfix for the ``ec2_vol`` module, some minor work on the ``ec2_key`` module, and various documentation fixes.  This is the last planned release of the 4.x series.
 
-
 Minor Changes
 -------------
 
@@ -730,7 +739,6 @@ The amazon.aws 4.3.0 release includes a number of minor bug fixes and improvemen
 Following the release of amazon.aws 5.0.0, backports to the 4.x series will be limited to
 security issues and bugfixes.
 
-
 Minor Changes
 -------------
 
@@ -885,7 +893,6 @@ Release Summary
 
 Following the release of amazon.aws 5.0.0, 3.5.0 is a bugfix release and the final planned release for the 3.x series.
 
-
 Minor Changes
 -------------
 
diff --git a/changelogs/changelog.yaml b/changelogs/changelog.yaml
index 326b1eab9d7..ca5293d4f0d 100644
--- a/changelogs/changelog.yaml
+++ b/changelogs/changelog.yaml
@@ -2404,11 +2404,23 @@ releases:
       - lookup/secretsmanager_secret - fix the issue when the nested secret is missing
         and on_missing is set to warn, the lookup was raising an error instead of
         a warning message (https://github.com/ansible-collections/amazon.aws/issues/1781).
-      release_summary: This release includes bugfixes for the``cloudwatchevent_rule`` module
-        and ``secretsmanager_secret`` lookup plugin.
+      release_summary: This release includes bugfixes for the``cloudwatchevent_rule``
+        module and ``secretsmanager_secret`` lookup plugin.
     fragments:
     - 1883-cloudwatchevent_rule-fix-json-input-handling-for-input_template.yml
     - 20240212-lookup-secretsmanager_secret-fix-issue-when-nested-is-missing-and-on_missing-is-set-to-warn.yaml
     - release_summary.yml
     - remove_rendundant_workflow.yml
     release_date: '2024-03-06'
+  6.5.4:
+    changes:
+      bugfixes:
+      - cloudwatchlogs_log_group_info - Implement exponential backoff when making
+        API calls to prevent throttling exceptions (https://github.com/ansible-collections/amazon.aws/issues/2011).
+      - plugin_utils.inventory - Ensure templated options in lookup plugins are converted (https://github.com/ansible-collections/amazon.aws/issues/1955).
+      release_summary: This release includes bugfixes for the ``cloudwatchlogs_log_group_info``
+        module and the inventory plugins.
+    fragments:
+    - 20240314-cloudwatchlogs_log_group_info-fix-throttling-exceptions.yml
+    - 6.5.4-release-summary.yml
+    release_date: '2024-04-03'
diff --git a/changelogs/fragments/20240314-cloudwatchlogs_log_group_info-fix-throttling-exceptions.yml b/changelogs/fragments/20240314-cloudwatchlogs_log_group_info-fix-throttling-exceptions.yml
deleted file mode 100644
index f7180acb4fd..00000000000
--- a/changelogs/fragments/20240314-cloudwatchlogs_log_group_info-fix-throttling-exceptions.yml
+++ /dev/null
@@ -1,3 +0,0 @@
----
-bugfixes:
-  - cloudwatchlogs_log_group_info - Implement exponential backoff when making API calls to prevent throttling exceptions (https://github.com/ansible-collections/amazon.aws/issues/2011).
diff --git a/galaxy.yml b/galaxy.yml
index e54722a2d1c..11fd92c2faf 100644
--- a/galaxy.yml
+++ b/galaxy.yml
@@ -1,7 +1,7 @@
 ---
 namespace: amazon
 name: aws
-version: 6.5.3
+version: 6.5.4
 readme: README.md
 authors:
   - Ansible (https://github.com/ansible)
diff --git a/plugins/module_utils/common.py b/plugins/module_utils/common.py
index f18d4ad7cdb..4c681dfe51b 100644
--- a/plugins/module_utils/common.py
+++ b/plugins/module_utils/common.py
@@ -4,7 +4,7 @@
 # GNU General Public License v3.0+ (see COPYING or https://www.gnu.org/licenses/gpl-3.0.txt)
 
 AMAZON_AWS_COLLECTION_NAME = "amazon.aws"
-AMAZON_AWS_COLLECTION_VERSION = "6.5.3"
+AMAZON_AWS_COLLECTION_VERSION = "6.5.4"
 
 
 _collection_info_context = {