diff --git a/reference-apps/fastapi-api-first/requirements.txt b/reference-apps/fastapi-api-first/requirements.txt
index 6643920..3e1405f 100644
--- a/reference-apps/fastapi-api-first/requirements.txt
+++ b/reference-apps/fastapi-api-first/requirements.txt
@@ -4,7 +4,7 @@
 # Core FastAPI dependencies
 fastapi==0.121.1
 uvicorn[standard]==0.38.0
-pydantic-settings==2.11.0
+pydantic-settings==2.12.0
 slowapi==0.1.9  # Rate limiting
 pybreaker==1.4.1  # Circuit breaker