Contains spoilers for this episode and earlier episodes.
Tommy faces the collapse of his London arrangements as police seize goods, vehicles and premises and arrest members of the gang. Arthur is held for Billy Kitchen's murder, while Michael faces an arson charge over the Marquis of Lorne. Campbell uses the arrests to tighten his control over Tommy, who has already agreed to carry out a killing for him and now has relatives trapped in custody.
Polly goes to Campbell to secure Michael's release. He exploits her desperation and demands sex, turning the meeting into an assault rather than a legitimate negotiation. Meanwhile, Grace contacts Tommy and they arrange to meet. Their reunion becomes intimate, giving him a private escape while his cousin and brother remain exposed to Campbell's pressure. His developing relationship with May now sits alongside the return of the woman he still loves.
Tommy changes the terms of the assassination by having the intended victim's house burned, making Campbell's original plan unusable. He then offers another location rather than refusing the mission outright. Campbell wants details for Churchill, but Tommy insists that he will choose a place where the police cannot easily kill him afterwards. The target will be approached at Epsom on Derby day, tying the compulsory murder to the racing business Tommy has been building.