diff --git a/sdk/identity/Azure.Identity/CHANGELOG.md b/sdk/identity/Azure.Identity/CHANGELOG.md
index b1275c3dfdc3..08bfdd03ea92 100644
--- a/sdk/identity/Azure.Identity/CHANGELOG.md
+++ b/sdk/identity/Azure.Identity/CHANGELOG.md
@@ -4,6 +4,11 @@
 
 - Restoring Application Authentication APIs from 1.2.0-preview.6
 
+## 1.2.1 (2020-08-18)
+
+### Fixed
+- Bug in TaskExtensions.EnsureCompleted method that causes it to unconditionally throw an exception in the environments with synchronization context
+
 ## 1.2.0 (2020-08-10)
 
 ### Breaking Changes
diff --git a/sdk/identity/Azure.Identity/src/Azure.Identity.csproj b/sdk/identity/Azure.Identity/src/Azure.Identity.csproj
index d2d348e26fac..40fc4a57c70b 100644
--- a/sdk/identity/Azure.Identity/src/Azure.Identity.csproj
+++ b/sdk/identity/Azure.Identity/src/Azure.Identity.csproj
@@ -3,7 +3,7 @@
     <Description>This is the implementation of the Azure SDK Client Library for Azure Identity</Description>
     <AssemblyTitle>Microsoft Azure.Identity Component</AssemblyTitle>
     <Version>1.3.0-preview.1</Version>
-    <ApiCompatVersion>1.2.0</ApiCompatVersion>
+    <ApiCompatVersion>1.2.1</ApiCompatVersion>
     <PackageTags>Microsoft Azure Identity;$(PackageCommonTags)</PackageTags>
     <TargetFrameworks>$(RequiredTargetFrameworks)</TargetFrameworks>
     <NoWarn>$(NoWarn);3021</NoWarn>