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We present an update to the EVEREST K2 pipeline that addresses variouslimitations in the previous version and improves the photometric precision ofthe de-trended light curves. We develop a fast regularization scheme for thirdorder pixel level decorrelation (PLD) and adapt the algorithm to include thePLD vectors of neighboring stars to enhance the predictive power of the modeland minimize overfitting, particularly for faint stars. We also modify PLD towork for saturated stars and improve its performance on extremely variablestars. On average, EVEREST 2.0 light curves have 10-20% higher photometricprecision than those in the previous version, yielding the highest precisionlight curves at all Kp magnitudes of any publicly available K2 catalog. Formost K2 campaigns, we recover the original Kepler precision to at least Kp =14, and to at least Kp = 15 for campaigns 1, 5, and 6. We also de-trend allshort cadence targets observed by K2, obtaining even higher photometricprecision for these stars. All light curves for campaigns 0-8 are availableonline in the EVEREST catalog, which will be continuously updated with futurecampaigns. EVEREST 2.0 is open source and is coded in a general framework thatcan be applied to other photometric surveys, including Kepler and the upcomingTESS mission.

An update to the EVEREST K2 pipeline: Short cadence, saturated stars, and Kepler-like photometry down to Kp = 15