Contains spoilers for this episode and earlier episodes.
The Boys follow the Compound V trail to the Believe Expo, where Butcher tells Hughie to use Annie's access to reach the religious celebrity Ezekiel. Hughie reluctantly obtains a VIP invitation, then improvises a blackmail threat after Homelander's baptism ruins his phone. Ezekiel reveals where the drug is being shipped. Butcher and Mother's Milk follow the information to a hospital and discover that infants are receiving Compound V to manufacture superheroes.
Annie struggles with the speeches and expectations imposed on her at the Expo. Instead of delivering her prepared remarks, she questions the version of faith being sold to the crowd and reveals that she was sexually assaulted. Hughie apologizes for using her access and tells her about Robin's death. Homelander also abandons his script, presenting himself as answerable to a higher authority rather than to the government Vought wants to persuade.
A-Train kills Popclaw after she admits that she told strangers about Compound V, then finds surveillance footage identifying Frenchie. Black Noir follows that lead, forcing Frenchie to flee. Ordered to leave the captive woman behind, Frenchie releases her instead. She returns to protect him from Noir and appears to die in the fight, but her wounds rapidly heal. His decision to help her brings a rescue in return, while the hospital gives the Boys evidence of Vought's manufactured origins.