diff --git a/CHANGELOG.md b/CHANGELOG.md
index 8c71fe5d10..6f280ae723 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,30 @@ All notable changes to this project will be documented in this file.
 
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/)
 
+## [Preview Release 2.0.0-preview3.20122.2] - 2020-05-01
+
+### Added
+- Allow passing username with Active Directory Interactive Authentication in .NET Framework [#492](https://github.com/dotnet/SqlClient/pull/492)
+- Allow large UDT buffers for .NET Framework [#456](https://github.com/dotnet/SqlClient/pull/456) 
+- Added "Transaction Id" and "Client Version" in Diagnostic Source traces [#515](https://github.com/dotnet/SqlClient/pull/515)
+- Added new `SqlConnectionOverrides` APIs to perform `SqlConnection.Open()` with fail fast option [#463](https://github.com/dotnet/SqlClient/pull/463)
+
+### Fixed
+- Addressed MARS TDS Header errors by reverting changes to make `SqlDataReader.ReadAsync()` non-blocking [#547](https://github.com/dotnet/SqlClient/pull/547)
+- Fixed driver behavior to not perform enlistment of pooled connection in aborted transaction [#543](https://github.com/dotnet/SqlClient/pull/543)
+- Fixed wrong application domain selected when starting `SqlDependencyListener` [#410](https://github.com/dotnet/SqlClient/pull/410)
+- Added missing refs for `RowCopied` property in `SqlBulkCopy` [#508](https://github.com/dotnet/SqlClient/pull/508)
+
+### Changes
+- Improved performance by removing unwanted method calls in Event Source tracing [#506](https://github.com/dotnet/SqlClient/pull/506)
+- Removed Diagnostic Source and Configuration Manager dependencies from .NET Standard implementation [#535](https://github.com/dotnet/SqlClient/pull/535)
+- Removed redundant calls to `DbConnectionPoolKey.GetType()` [#512](https://github.com/dotnet/SqlClient/pull/512)
+
+### Breaking Changes
+- Updated driver to perform decimal scale rounding to match SQL Server behavior [#470](https://github.com/dotnet/SqlClient/pull/470)
+- Standardized App Context switch name that enables Managed SNI on Windows for .NET Core and .NET Standard (break only applies to 2.0 preview releases that introduced the switch) [#548](https://github.com/dotnet/SqlClient/pull/548)
+
+
 ## [Stable Release 1.1.2] - 2020-04-15
 
 ### Added
diff --git a/release-notes/2.0/2.0.0-preview3.md b/release-notes/2.0/2.0.0-preview3.md
new file mode 100644
index 0000000000..4817b63302
--- /dev/null
+++ b/release-notes/2.0/2.0.0-preview3.md
@@ -0,0 +1,99 @@
+# Release Notes
+
+## Microsoft.Data.SqlClient 2.0.0-preview3.20122.2 released 1 May 2020
+
+This update brings the below changes over the previous release:
+
+### Added
+- Allow passing username with Active Directory Interactive Authentication in .NET Framework [#492](https://github.com/dotnet/SqlClient/pull/492)
+- Allow large UDT buffers for .NET Framework [#456](https://github.com/dotnet/SqlClient/pull/456) 
+- Added "Transaction Id" and "Client Version" in Diagnostic Source traces [#515](https://github.com/dotnet/SqlClient/pull/515)
+- Added new `SqlConnectionOverrides` APIs to perform `SqlConnection.Open()` with fail fast option [#463](https://github.com/dotnet/SqlClient/pull/463)
+
+### Fixed
+- Addressed MARS TDS Header errors by reverting changes to make `SqlDataReader.ReadAsync()` non-blocking [#547](https://github.com/dotnet/SqlClient/pull/547)
+- Fixed driver behavior to not perform enlistment of pooled connection in aborted transaction [#543](https://github.com/dotnet/SqlClient/pull/543)
+- Fixed wrong application domain selected when starting `SqlDependencyListener` [#410](https://github.com/dotnet/SqlClient/pull/410)
+- Added missing refs for `RowCopied` property in `SqlBulkCopy` [#508](https://github.com/dotnet/SqlClient/pull/508)
+
+### Changes
+- Improved performance by removing unwanted method calls in Event Source tracing [#506](https://github.com/dotnet/SqlClient/pull/506)
+- Removed Diagnostic Source and Configuration Manager dependencies from .NET Standard implementation [#535](https://github.com/dotnet/SqlClient/pull/535)
+- Removed redundant calls to `DbConnectionPoolKey.GetType()` [#512](https://github.com/dotnet/SqlClient/pull/512)
+
+### Breaking Changes
+- Updated driver to perform decimal scale rounding to match SQL Server behavior [#470](https://github.com/dotnet/SqlClient/pull/470)
+- Standardized App Context switch that enables Managed SNI on Windows for .NET Core and .NET Standard (break only applies to 2.0 preview releases that introduced the switch) [#548](https://github.com/dotnet/SqlClient/pull/548)
+
+
+### Enabling decimal truncation behavior conditionally
+Starting with v2.0.0-preview3, the decimal data scale will be rounded by the driver by default as is done by SQL Server.
+For backwards compatibility, you can set the [AppContext](https://docs.microsoft.com/en-us/dotnet/api/system.appcontext?view=netframework-4.8) switch "Switch.Microsoft.Data.SqlClient.TruncateScaledDecimal" to "true".
+
+To set the switch at application startup, specify:
+
+```cs
+AppContext.SetSwitch("Switch.Microsoft.Data.SqlClient.TruncateScaledDecimal", true);
+```
+
+### Enabling Managed networking on Windows
+This release introduces the renamed AppContext switch "Switch.Microsoft.Data.SqlClient.UseManagedNetworkingOnWindows" that enables the use of Managed SNI instead of native SNI on Windows for testing and debugging purposes. This switch will toggle the driver's behavior to use Managed SNI in .NET Core 2.1+ and .NET Standard 2.0+ projects on Windows.
+
+To set the switch at application startup, specify:
+
+```cs
+AppContext.SetSwitch("Switch.Microsoft.Data.SqlClient.UseManagedNetworkingOnWindows", true);
+```
+
+## Target Platform Support
+
+- .NET Framework 4.6+
+- .NET Core 2.1+ (Windows x86, Windows x64, Linux, macOS)
+- .NET Standard 2.0+ (Windows x86, Windows x64, Linux, macOS)
+
+### Dependencies
+
+#### .NET Framework
+
+- Microsoft.Data.SqlClient.SNI 1.1.0+
+- Microsoft.Identity.Client 3.0.8
+- Microsoft.IdentityModel.Protocols.OpenIdConnect 5.6.0
+- Microsoft.IdentityModel.JsonWebTokens 5.6.0
+
+#### .NET Core 2.1
+
+- runtime.native.System.Data.SqlClient.sni 4.4.0 
+- Microsoft.Win32.Registry 4.7.0 
+- System.Security.Principal.Windows 4.7.0 
+- System.Text.Encoding.CodePages 4.7.0 
+- System.Diagnostics.DiagnosticSource 4.7.0 
+- System.Configuration.ConfigurationManager 4.7.0 
+- System.Runtime.Caching 4.7.0 
+- Microsoft.Identity.Client 4.7.1
+- Microsoft.IdentityModel.Protocols.OpenIdConnect 5.6.0
+- Microsoft.IdentityModel.JsonWebTokens 5.6.0
+
+#### .NET Core 3.1
+
+- runtime.native.System.Data.SqlClient.sni 4.4.0 
+- Microsoft.Win32.Registry 4.7.0 
+- System.Security.Principal.Windows 4.7.0 
+- System.Text.Encoding.CodePages 4.7.0 
+- System.Diagnostics.DiagnosticSource 4.7.0 
+- System.Configuration.ConfigurationManager 4.7.0 
+- System.Runtime.Caching 4.7.0 
+- Microsoft.Identity.Client 4.7.1
+- Microsoft.IdentityModel.Protocols.OpenIdConnect 5.6.0
+- Microsoft.IdentityModel.JsonWebTokens 5.6.0
+
+#### .NET Standard
+
+- runtime.native.System.Data.SqlClient.sni 4.4.0
+- Microsoft.Win32.Registry 4.7.0
+- System.Buffers 4.5.0
+- System.Memory 4.5.3
+- System.Security.Principal.Windows 4.7.0
+- System.Text.Encoding.CodePages 4.7.0
+- Microsoft.Identity.Client 4.7.1
+- Microsoft.IdentityModel.Protocols.OpenIdConnect 5.6.0
+- Microsoft.IdentityModel.JsonWebTokens 5.6.0
diff --git a/release-notes/2.0/2.0.md b/release-notes/2.0/2.0.md
index 7b48fdeedf..d8d9a839a5 100644
--- a/release-notes/2.0/2.0.md
+++ b/release-notes/2.0/2.0.md
@@ -6,3 +6,4 @@ The following Microsoft.Data.SqlClient 2.0 preview releases have been shipped:
 | :-- | :-- | :--: |
 | 2020/01/21 | 2.0.0-preview1.20021.1 | [release notes](2.0.0-preview1.md) |
 | 2020/03/24 | 2.0.0-preview2.20084.1 | [release notes](2.0.0-preview2.md) |
+| 2020/05/01 | 2.0.0-preview3.20122.2 | [release notes](2.0.0-preview3.md) |
diff --git a/release-notes/2.0/README.md b/release-notes/2.0/README.md
index 7b48fdeedf..d8d9a839a5 100644
--- a/release-notes/2.0/README.md
+++ b/release-notes/2.0/README.md
@@ -6,3 +6,4 @@ The following Microsoft.Data.SqlClient 2.0 preview releases have been shipped:
 | :-- | :-- | :--: |
 | 2020/01/21 | 2.0.0-preview1.20021.1 | [release notes](2.0.0-preview1.md) |
 | 2020/03/24 | 2.0.0-preview2.20084.1 | [release notes](2.0.0-preview2.md) |
+| 2020/05/01 | 2.0.0-preview3.20122.2 | [release notes](2.0.0-preview3.md) |