Contains spoilers for this episode and earlier episodes.
Hughie investigates Red River after seeing Neuman kill Tony. Pretending to be interested in adoption, he learns that the institution houses superpowered children and finds evidence connecting Nadia to Stan Edgar. The discovery strips away his confidence in the bureau's independence. Annie is drawn into preparations for Homelander's birthday broadcast, leaving Hughie to follow the lead while trying to keep his fear of Neuman hidden at work.
Butcher and the others pursue former members of Payback to find out how Soldier Boy supposedly died. Frenchie and Kimiko's encounter with Crimson Countess ends in a chaotic escape. Gunpowder resists Butcher's questions and attacks him, demonstrating how little protection Butcher has without powers. Mother's Milk initially refuses to return to the team, afraid of repeating the obsession that consumed his father, but cannot put Soldier Boy's connection to his family behind him.
Hughie tells Butcher that Neuman is the head-popping Supe and says their restrained approach has failed. Butcher takes Temp V, confronts Gunpowder again and learns that Soldier Boy disappeared on a CIA operation in Nicaragua involving Mallory. He kills Gunpowder with his temporary powers. Homelander learns that Stormfront has died and later abandons the apologetic script of his birthday appearance. He declares his superiority to the audience, leaving Vought with an openly defiant star rather than another rehearsed apology.