While the fort is under attack, Jack, Anne and Max are enjoying themselves a sexy three-way. Suddenly Anne realizes that Jack and Max appear to be forming a deeper bond. Needless to say, she's quite jealous about it.
Meanwhile, Miranda finally decides it's time to take action. If she doesn't do something, she will lose Flint forever and the island will be left in ruins. Miranda heads down to the beach with new information that might convince Flint to back down and end the attack.
At the beach, Billy Bones' health continues to improve but he's being held prisoner by Silver. Before Billy can rejoin his mates, Silver must feel confident he will not provoke the crew against Flint. He manages to convince Billy they need Captain Flint to retrieve the Urca gold.
Captain Vane receives an update on the damage to the fort. He and Ms. Ashe have been hiding in the lower levels of the fort. Vane decides the only way to end this attack is to take out the source; Flint. He asks that Ms. Ashe is looked after and leaves to locate Flint.
Elsewhere, Eleanor and her father, discuss the future of the island. The man finally confesses he left his daughter to her own devices because she was not a boy. Had she been a son, things would have been different. Still, he also confessed he is very proud of what Eleanor accomplished on Nassau. She turned pirates into merchants, earning the respect and turning a profit.
Via flashback, we see Flint reunited with Miranda and Thomas after several months in Nassau. Unfortunately, the pirates had revolted killing the Governor's wife and son in order to spread fear. They were out to prove who really controls the island. This setback would make it difficult to plead their case for pardoning the pirates and accepting them as merchants.
Miranda quickly realized Flint was heading down a dangerous path. She was the only person that knew Hamilton Sr. would do anything to destroy his son's vision for Nassau by ruining them all.
Ultimately, in order to avoid a scandal, Admiral Hennessey discharges Flint from service and would not press charges as long as Flint never returned to London.
In the present day, Captain Flint and Miranda arrive at Eleanor's bar to discuss an alternative way to end the conflict. Miranda shares the story of Captain Vane's priceless cargo; Peter Ashe's only daughter. Flint could not imagine negotiating with a man that hangs people found in possession of pirated goods. Peter was not the same man they remember. Miranda assured him he could negotiate, "Because you will just have presented him with his only daughter. Safe and unharmed and without conditions."
She went on to tell Flint it was time to let go of his greatest shame. The affair was much deeper than most realized, as Flint had fallen in love with her husband, Thomas Hamilton. Miranda accepted their love for one another and loved both men in return. Flint made clear the only thing he was ashamed of was not doing something to save Thomas, who was committed to an insane asylum due to the affair.
As Flint reminisced about his time with Thomas, Captain Vane made his move and attacked.