Flint and Miranda come to grips with their past. Bonny makes clear her intentions to Rackham. Vane collects a huge prize. Eleanor issues a declaration of war.

The Walrus crew battles the elements. Teach and Rackham have a disagreement. Rogers and Eleanor set terms for their partnership. Bonny fears for her future with Max.

Flint challenges Teach over the future of piracy. Rogers makes an arrest. Rackham finds new purpose. Madi comes to Silver's aid.

The invasion of Nassau results in catastrophe, while Teach and Rackham look to avenge the death of Charles Vane and Eleanor gets acclimated to her new role.

Flint urges caution on an angry Silver. Max leads Rackham and Bonny up river. Billy locates a survivor. Rogers learns the truth.