diff --git a/setup/win32/winpy_requirements.txt b/setup/win32/winpy_requirements.txt
index 90a4a001..847277b5 100644
--- a/setup/win32/winpy_requirements.txt
+++ b/setup/win32/winpy_requirements.txt
@@ -8,7 +8,7 @@ greenlet>=0.4.10
 html2text==2016.9.19
 Jinja2==2.10.1
 lxml>=3.5.0
-Mako==1.0.4
+Mako==1.2.2
 MarkupSafe==0.23
 mock==2.0.0
 num2words==0.5.4