diff --git a/libraries/kotlinx-metadata/jvm/ChangeLog.md b/libraries/kotlinx-metadata/jvm/ChangeLog.md
index ca13e1205c7..20bea14f5b9 100644
--- a/libraries/kotlinx-metadata/jvm/ChangeLog.md
+++ b/libraries/kotlinx-metadata/jvm/ChangeLog.md
@@ -1,11 +1,14 @@
 # kotlinx-metadata-jvm
 
-## 0.2.1
+## 0.3.0
 
-- [KT-44783](https://youtrack.jetbrains.com/issue/KT-44783) Add Flag.IS_VALUE for value classes
+- Update to Kotlin 1.5 with metadata version 1.5.
+  Note: metadata of version 1.5 is readable by Kotlin compiler/reflection of versions 1.4 and later.
+- [`KT-44783`](https://youtrack.jetbrains.com/issue/KT-44783) Add Flag.IS_VALUE for value classes
   - Breaking change: `Flag.IS_INLINE` is deprecated, use `Flag.IS_VALUE` instead
 - Breaking change: deprecate `KotlinClassHeader.bytecodeVersion` and `KotlinClassHeader`'s constructor that takes a bytecode version array.
   Related to ['KT-41758`](https://youtrack.jetbrains.com/issue/KT-41758).
+- [`KT-45594`](https://youtrack.jetbrains.com/issue/KT-45594) KClass annotation argument containing array of classes is not read/written correctly
 
 ## 0.2.0
 
diff --git a/libraries/kotlinx-metadata/src/kotlinx/metadata/annotations.kt b/libraries/kotlinx-metadata/src/kotlinx/metadata/annotations.kt
index cdc2f1bdc6a..132adaf815c 100644
--- a/libraries/kotlinx-metadata/src/kotlinx/metadata/annotations.kt
+++ b/libraries/kotlinx-metadata/src/kotlinx/metadata/annotations.kt
@@ -43,7 +43,11 @@ sealed class KmAnnotationArgument<out T : Any> {
     data class ULongValue(override val value: Long) : KmAnnotationArgument<Long>()
 
     data class StringValue(override val value: String) : KmAnnotationArgument<String>()
-    data class KClassValue(override val value: ClassName) : KmAnnotationArgument<ClassName>()
+
+    data class KClassValue(val className: ClassName, val arrayDimensionCount: Int) : KmAnnotationArgument<String>() {
+        override val value: String = className + "[]".repeat(arrayDimensionCount)
+    }
+
     data class EnumValue(val enumClassName: ClassName, val enumEntryName: String) : KmAnnotationArgument<String>() {
         override val value: String = "$enumClassName.$enumEntryName"
     }
diff --git a/libraries/kotlinx-metadata/src/kotlinx/metadata/impl/readUtils.kt b/libraries/kotlinx-metadata/src/kotlinx/metadata/impl/readUtils.kt
index e807fbbc122..7fb1dfc6f15 100644
--- a/libraries/kotlinx-metadata/src/kotlinx/metadata/impl/readUtils.kt
+++ b/libraries/kotlinx-metadata/src/kotlinx/metadata/impl/readUtils.kt
@@ -44,7 +44,7 @@ fun ProtoBuf.Annotation.Argument.Value.readAnnotationArgument(strings: NameResol
         DOUBLE -> KmAnnotationArgument.DoubleValue(doubleValue)
         BOOLEAN -> KmAnnotationArgument.BooleanValue(intValue != 0L)
         STRING -> KmAnnotationArgument.StringValue(strings.getString(stringValue))
-        CLASS -> KmAnnotationArgument.KClassValue(strings.getClassName(classId))
+        CLASS -> KmAnnotationArgument.KClassValue(strings.getClassName(classId), arrayDimensionCount)
         ENUM -> KmAnnotationArgument.EnumValue(strings.getClassName(classId), strings.getString(enumValueId))
         ANNOTATION -> KmAnnotationArgument.AnnotationValue(annotation.readAnnotation(strings))
         ARRAY -> KmAnnotationArgument.ArrayValue(arrayElementList.mapNotNull { it.readAnnotationArgument(strings) })
diff --git a/libraries/kotlinx-metadata/src/kotlinx/metadata/impl/writeUtils.kt b/libraries/kotlinx-metadata/src/kotlinx/metadata/impl/writeUtils.kt
index b76c0453c44..5023b0103b0 100644
--- a/libraries/kotlinx-metadata/src/kotlinx/metadata/impl/writeUtils.kt
+++ b/libraries/kotlinx-metadata/src/kotlinx/metadata/impl/writeUtils.kt
@@ -85,7 +85,8 @@ fun KmAnnotationArgument<*>.writeAnnotationArgument(strings: StringTable): Proto
             }
             is KmAnnotationArgument.KClassValue -> {
                 this.type = ProtoBuf.Annotation.Argument.Value.Type.CLASS
-                this.classId = strings.getClassNameIndex(value)
+                this.classId = strings.getClassNameIndex(className)
+                this.arrayDimensionCount = this@writeAnnotationArgument.arrayDimensionCount
             }
             is KmAnnotationArgument.EnumValue -> {
                 this.type = ProtoBuf.Annotation.Argument.Value.Type.ENUM
diff --git a/libraries/tools/kotlinp/src/org/jetbrains/kotlin/kotlinp/printers.kt b/libraries/tools/kotlinp/src/org/jetbrains/kotlin/kotlinp/printers.kt
index 82d157328c1..3607d314a19 100644
--- a/libraries/tools/kotlinp/src/org/jetbrains/kotlin/kotlinp/printers.kt
+++ b/libraries/tools/kotlinp/src/org/jetbrains/kotlin/kotlinp/printers.kt
@@ -461,7 +461,11 @@ private fun renderAnnotationArgument(arg: KmAnnotationArgument<*>): String =
         is KmAnnotationArgument.ULongValue -> arg.value.toULong().toString() + "uL"
         is KmAnnotationArgument.BooleanValue -> arg.value.toString()
         is KmAnnotationArgument.StringValue -> "\"${arg.value.sanitize(quote = '"')}\""
-        is KmAnnotationArgument.KClassValue -> "${arg.value}::class"
+        is KmAnnotationArgument.KClassValue -> buildString {
+            repeat(arg.arrayDimensionCount) { append("kotlin/Array<") }
+            append(arg.className).append("::class")
+            repeat(arg.arrayDimensionCount) { append(">") }
+        }
         is KmAnnotationArgument.EnumValue -> arg.value
         is KmAnnotationArgument.AnnotationValue -> arg.value.let { annotation ->
             val args = annotation.arguments.entries.joinToString { (name, argument) ->
diff --git a/libraries/tools/kotlinp/testData/Annotations.kt b/libraries/tools/kotlinp/testData/Annotations.kt
index 799cf094fca..8e2e35df12e 100644
--- a/libraries/tools/kotlinp/testData/Annotations.kt
+++ b/libraries/tools/kotlinp/testData/Annotations.kt
@@ -29,7 +29,12 @@ annotation class A(
     val str: String,
     val enum: AnnotationTarget,
     val klass: KClass<*>,
-    val anno: B
+    val klass2: KClass<*>,
+    val anno: B,
+    val stra: Array<String>,
+    val ka: Array<KClass<*>>,
+    val ea: Array<AnnotationTarget>,
+    val aa: Array<B>
 )
 
 annotation class B(val value: String)
@@ -66,7 +71,12 @@ class C {
         "aba\ncaba'\"\t\u0001\u0002\uA66E",
         AnnotationTarget.CLASS,
         C::class,
-        B(value = "aba\ncaba'\"\t\u0001\u0002\uA66E")
+        IntArray::class,
+        B(value = "aba\ncaba'\"\t\u0001\u0002\uA66E"),
+        ["lmao"],
+        [Double::class, Unit::class, LongArray::class, Array<String>::class],
+        [AnnotationTarget.TYPEALIAS, AnnotationTarget.FIELD],
+        [B("2"), B(value = "3")]
     ) Unit {}
 
     fun parameterTypeAnnotation(p: @JvmNamed("Q_Q") Any): Any = p
diff --git a/libraries/tools/kotlinp/testData/Annotations.txt b/libraries/tools/kotlinp/testData/Annotations.txt
index 94c37648cea..433b46073ac 100644
--- a/libraries/tools/kotlinp/testData/Annotations.txt
+++ b/libraries/tools/kotlinp/testData/Annotations.txt
@@ -3,8 +3,12 @@
 public final annotation class A : kotlin/Annotation {
 
   // requires language version 1.3.0 (level=ERROR)
-  // signature: <init>(ZCBSIFJDLkotlin/UInt;Lkotlin/UByte;Lkotlin/UShort;Lkotlin/ULong;Lkotlin/UInt;Lkotlin/UByte;Lkotlin/UShort;Lkotlin/ULong;[Z[C[B[S[I[F[J[DLjava/lang/String;Lkotlin/annotation/AnnotationTarget;Lkotlin/reflect/KClass;LB;)V
-  public constructor(z: kotlin/Boolean, c: kotlin/Char, b: kotlin/Byte, s: kotlin/Short, i: kotlin/Int, f: kotlin/Float, j: kotlin/Long, d: kotlin/Double, ui: kotlin/UInt, ub: kotlin/UByte, us: kotlin/UShort, ul: kotlin/ULong, ui_max: kotlin/UInt, ub_max: kotlin/UByte, us_max: kotlin/UShort, ul_max: kotlin/ULong, za: kotlin/BooleanArray, ca: kotlin/CharArray, ba: kotlin/ByteArray, sa: kotlin/ShortArray, ia: kotlin/IntArray, fa: kotlin/FloatArray, ja: kotlin/LongArray, da: kotlin/DoubleArray, str: kotlin/String, enum: kotlin/annotation/AnnotationTarget, klass: kotlin/reflect/KClass<*>, anno: B)
+  // signature: <init>(ZCBSIFJDLkotlin/UInt;Lkotlin/UByte;Lkotlin/UShort;Lkotlin/ULong;Lkotlin/UInt;Lkotlin/UByte;Lkotlin/UShort;Lkotlin/ULong;[Z[C[B[S[I[F[J[DLjava/lang/String;Lkotlin/annotation/AnnotationTarget;Lkotlin/reflect/KClass;Lkotlin/reflect/KClass;LB;Lkotlin/Array;Lkotlin/Array;Lkotlin/Array;Lkotlin/Array;)V
+  public constructor(z: kotlin/Boolean, c: kotlin/Char, b: kotlin/Byte, s: kotlin/Short, i: kotlin/Int, f: kotlin/Float, j: kotlin/Long, d: kotlin/Double, ui: kotlin/UInt, ub: kotlin/UByte, us: kotlin/UShort, ul: kotlin/ULong, ui_max: kotlin/UInt, ub_max: kotlin/UByte, us_max: kotlin/UShort, ul_max: kotlin/ULong, za: kotlin/BooleanArray, ca: kotlin/CharArray, ba: kotlin/ByteArray, sa: kotlin/ShortArray, ia: kotlin/IntArray, fa: kotlin/FloatArray, ja: kotlin/LongArray, da: kotlin/DoubleArray, str: kotlin/String, enum: kotlin/annotation/AnnotationTarget, klass: kotlin/reflect/KClass<*>, klass2: kotlin/reflect/KClass<*>, anno: B, stra: kotlin/Array<kotlin/String>, ka: kotlin/Array<kotlin/reflect/KClass<*>>, ea: kotlin/Array<kotlin/annotation/AnnotationTarget>, aa: kotlin/Array<B>)
+
+  // getter: aa()[LB;
+  public final val aa: kotlin/Array<B>
+    public final get
 
   // getter: anno()LB;
   public final val anno: B
@@ -34,6 +38,10 @@ public final annotation class A : kotlin/Annotation {
   public final val da: kotlin/DoubleArray
     public final get
 
+  // getter: ea()[Lkotlin/annotation/AnnotationTarget;
+  public final val ea: kotlin/Array<kotlin/annotation/AnnotationTarget>
+    public final get
+
   // getter: enum()Lkotlin/annotation/AnnotationTarget;
   public final val enum: kotlin/annotation/AnnotationTarget
     public final get
@@ -62,10 +70,18 @@ public final annotation class A : kotlin/Annotation {
   public final val ja: kotlin/LongArray
     public final get
 
+  // getter: ka()[Ljava/lang/Class;
+  public final val ka: kotlin/Array<kotlin/reflect/KClass<*>>
+    public final get
+
   // getter: klass()Ljava/lang/Class;
   public final val klass: kotlin/reflect/KClass<*>
     public final get
 
+  // getter: klass2()Ljava/lang/Class;
+  public final val klass2: kotlin/reflect/KClass<*>
+    public final get
+
   // getter: s()S
   public final val s: kotlin/Short
     public final get
@@ -78,6 +94,10 @@ public final annotation class A : kotlin/Annotation {
   public final val str: kotlin/String
     public final get
 
+  // getter: stra()[Ljava/lang/String;
+  public final val stra: kotlin/Array<kotlin/String>
+    public final get
+
   // requires language version 1.3.0 (level=ERROR)
   // requires compiler version 1.4.30 (level=ERROR)
   // requires language version 1.4.0 (level=ERROR)
@@ -168,7 +188,7 @@ public final class C : kotlin/Any {
   public final fun parameterTypeAnnotation(p: @JvmNamed(value = "Q_Q") kotlin/Any): kotlin/Any
 
   // signature: returnTypeAnnotation()V
-  public final fun returnTypeAnnotation(): @A(z = true, c = 'x', b = 1.toByte(), s = 42.toShort(), i = 42424242, f = -2.72f, j = 239239239239239L, d = 3.14, ui = 1u, ub = 255.toUByte(), us = 3.toUShort(), ul = 4uL, ui_max = 4294967295u, ub_max = 255.toUByte(), us_max = 65535.toUShort(), ul_max = 18446744073709551615uL, za = [true], ca = ['\''], ba = [1.toByte()], sa = [42.toShort()], ia = [42424242], fa = [-2.72f], ja = [239239239239239L], da = [3.14], str = "aba\ncaba'\"\t\u0001\u0002ꙮ", enum = kotlin/annotation/AnnotationTarget.CLASS, klass = C::class, anno = B(value = "aba\ncaba'\"\t\u0001\u0002ꙮ")) kotlin/Unit
+  public final fun returnTypeAnnotation(): @A(z = true, c = 'x', b = 1.toByte(), s = 42.toShort(), i = 42424242, f = -2.72f, j = 239239239239239L, d = 3.14, ui = 1u, ub = 255.toUByte(), us = 3.toUShort(), ul = 4uL, ui_max = 4294967295u, ub_max = 255.toUByte(), us_max = 65535.toUShort(), ul_max = 18446744073709551615uL, za = [true], ca = ['\''], ba = [1.toByte()], sa = [42.toShort()], ia = [42424242], fa = [-2.72f], ja = [239239239239239L], da = [3.14], str = "aba\ncaba'\"\t\u0001\u0002ꙮ", enum = kotlin/annotation/AnnotationTarget.CLASS, klass = C::class, klass2 = kotlin/IntArray::class, anno = B(value = "aba\ncaba'\"\t\u0001\u0002ꙮ"), stra = ["lmao"], ka = [kotlin/Double::class, kotlin/Unit::class, kotlin/LongArray::class, kotlin/Array<kotlin/String::class>], ea = [kotlin/annotation/AnnotationTarget.TYPEALIAS, kotlin/annotation/AnnotationTarget.FIELD], aa = [B(value = "2"), B(value = "3")]) kotlin/Unit
 
   // module name: test-module
 }