As Tommy prepares to commit the most audacious crime of his career, an unexpected blow forces him to face his worst fears in a race against time.
The episode opens with the opening of the Grace Shelby Institute for Orphaned Children. After giving a short speech, Thomas goes into the hall where a portrait of Grace is standing. Father Hughes appears, saying his invitation must have been lost. He tells Thomas that his office is only 2 doors away. He warns Thomas not to deviate from the original plan in the next 24 hours. As Father Hughes escorts the children out, Michael walks by and he cannot keep his eyes off Hughes as he invites Thomas in for tea.
Through the festivities, Thomas is distracted as he takes a photo with a few ladies and hands his son, Charles, off to a nanny. After the photo is taken, he finds that Charles in no longer in the room anymore and has been taken by someone and out of the building into a car.
Thomas is soon lead to a car with Father Hughes who tells him he has his child. Hughes tells Thomas to blow up the train himself and that there must be casualties. He also tells Thomas he's found out about the tunnel digging, and that all of the jewels, including the Faberge Egg, will be given to Hughes.
Thomas starts accusing everyone in his immediate family Ada, John, Polly and Arthur telling that any one of them had leaked the information out as they were the only ones he told about the Faberge Egg. Thomas in the end tells Polly it must be Reuben Oliver, her new lover, as she must've leaked it when she was drunk. Polly in her anger takes a knife and tears her portrait painting to shreds.
Thomas then meets with Alfie asking for names of people who would buy a specific Faberge Egg, and those who would buy it only for their wife. When Alfie gives him a list, Thomas's suspicions are confirmed as Alfie has excluded a name. Thomas had also asked for the same list from his jewellers. Thomas tells Alfie that Alfie's been working with the Oddfellows and Alfie says that he wanted to the gold and he knew that Charles would be taken and that he did not care. As Thomas tackles Alfie, Alfie's bodyguard comes to wrench him off but is shot with the sudden appearance of Michael.
Michael tells Thomas not to shoot Alfie as it would be bad for business. As the heated argument continues, Alfie reprimands Thomas to shoot him like an honourable man, recognising how many innocent people Thomas has killed himself. Thomas tells Michael to get Inspector Moss. As Michael leaves, Alfie confides in Thomas that he actually did not know about the abduction of Charles.
Reuben Oliver comes to find Polly only to find a torn up painting and a gun at his head. When Polly asks why he didn't come sooner, Reuben says he wasn't sure if he was ready to enter that life but now he was. Polly tells him that the painting was wrong and that the woman there was too sure of herself and she wanted a life with Reuben.
Meanwhile, Arthur and John, with the help of the police, find the man that was missing from Alfie's list and demand the location of Charles.
Thomas goes over to Johnny Dogs where the tunnel is being dug and goes in to help and speed up the process. Thomas is able to place an explosive and get into the underground stronghold where the jewels are kept and manages to steal two pouches worth before leaving.
Michael finds Father Hughes with Charles and points a gun to his head. However, due to hesitation, Hughes catches him off guard and knocks the gun out of his hand and starts punching him. Michael takes out a knife and slashes his eye and as he has Hughes pinned down, the two Peaky Blinders (who Michael told to stay in the car) come in to shoot Hughes. Michael stops them and says he has to do it himself. Michael plunges the knife into Hughes' neck and kills him. Michael brings Charles home where Polly sees the blood stains on his face.
Arthur is hesitating to set off the explosives on the train, but when John offers to do it for him, Arthur refuses and says that he will complete the task Thomas set him to do. Just as he is about to, Finn comes running behind the train to say that Charlie is safe. However it is too late, and the train blows into pieces. They then proceed to burn off any remaining pieces of evidence.
Thomas goes out to meet Tatiana and a jeweller, representing a buyer in Paris. It is revealed that Tatiana has double-crossed her family, working with Thomas to steal the jewels from them. The jeweller says he needs to witness her signature to make the sale legitimate. Tatiana gives Thomas a briefcase of money in exchange for the jewels. Tatiana kisses him, and then demands Thomas return a portion of the money "for the sex," and another for helping him get over the death of his wife. Thomas only gives over the first portion, saying she didn't even come close to helping on the latter. As Thomas walks to his car, Tatiana shoots the jeweller. She says she will go to Vienna.
Back at the mansion, Thomas starts handing out the cash promised to everyone at the beginning of the season. He says he regrets involving everyone in this mission and says he now recognises that no matter how legitimate the company becomes, the higher ranking people will never accept them because of who they are and where they're from. As he hands Michael his money, Polly steps in and says that she has a different view of what the company future could be. Linda tells Arthur they have a train to catch to the ferry to New York. Arthur begins saying brief goodbyes.
To everyone's dismay, Thomas suddenly tells Arthur that he won't get far as the police have issued warrants for the arrests of Arthur, John, Michael, and Polly. This was ordered by their enemies who also have ties with the police. Thomas tells them he has a plan and he has arranged something with people even more powerful than their enemies, but the whole room is still in disarray. Thomas tells Lizzie to take and put away the money for later distribution. The final scene shows Thomas watching the trucks taking away his family.
- Tatiana Petrovna: "And 5 for helping you through the grief of losing your wife."
- Thomas Shelby: "You didn't even come close."
- Tatiana Petrovna (to Thomas Shelby): "At home these jewels saw way worse. That's why they are all cursed. As are we. Mr Shelby."
- Thomas Shelby (to Shelby family): And they will never admit us to their palaces no matter how legitimate we become. Because of who we are—because of who we fucking are—because of where we are fucking from."
- Polly Shelby (to Thomas Shelby): "So at an alternative time, when we have all recovered I would like to put before the family an alternative view of the future of the Shelby Company Limited. A more hopeful view. Which I, for one, would quite like to hear.