After murdering a Flag Smasher, John Walker runs away. Lemar and the incident flash through his mind.
Bucky and Sam confront John. Sam asks him for Captain America's shield. Bucky and Sam fight John for the shield. After the fight, Bucky leaves, and Sam tries to wipe the blood off the shield.
Sam, Torres, and Bucky review the Flag Smashers' current status, trying to find Karli. Bucky abruptly leaves. Sam and Torres continue talking about Karli. Eventually, Sam leaves with Captain America's shield, but he leaves Falcon's wings behind.
Back in the US, John Walker attends a hearing with the American government. They discharge him from the military and Captain America duties. John tries to fight the mandate, and he loses his temper.
After the hearing, John's wife comforts him. A woman interrupts their conversation and introduces herself as Valentina Allegra de Fontaine, promising to keep in touch.
Karli and the Flag Smashers are hiding at the abandoned GRC building in Latvia. Karli is angry about what happened and alludes to a big showdown the Flag Smashers planned.
Bucky finds Zemo in Sokovia. Zemo advises Bucky to kill Karli, but Bucky turns the advice down. Bucky aims his gun at Zemo and fires, but then he reveals he removed the bullets from the gun. Instead, the Dora Milaje arrive to take Zemo away. Zemo says goodbye to Bucky. Bucky asks Ayo for another favor.
In Maryland, Sam goes to visit Isaiah. Sam wants to give Isaiah Captain America's shield. Isaiah tells Sam about his time in prison when the government experimented on him.
Sam ends up leaving with the shield. He calls Sarah and tells her he is coming home.
Back home, Sam works on the family boat with his nephews. He accepts that they will sell the boat, but Sam's nephews tell him Sarah changed her mind. Sam promises to fix the boat. After Sam's nephews leave for school, Sam suggests calling people who owe their parents. He spends the day making phone calls, and everyone bands together to help fix the boat.
Bucky arrives in Louisiana and helps Sam with the boat. They spend the day fixing the boat. Sam offers Bucky a place to stay for the night.
Walker visits Lemar's parents and tells them what happened. He lies about who killed Lemar. After Walker leaves, he finds a graffiti poster of himself as Captain America.
Sharon calls someone and offers them a deal.
Bucky watches Sam's nephews play with Captain America's shield. At dawn, Bucky finds Sam on the boat, and they continue fixing it. Eventually, Sarah arrives and kicks them out.
Bucky and Sam talk about Captain America's shield. Then, they talk about Bucky's future and his making amends. Sam promises to call Bucky if he has a lead on Karli. They acknowledge their newfound friendship.
Sam goes back to the boat. Sarah tells him that she cannot sell the boat. They talk about Isaiah Bradley and what Sam plans to do next.
Sam starts training as Captain America.
Karli allies the Flag Smashers with Georges Batroc. She sets her plan in action, even though Dovich is skeptical.
Sam is watching the news, where a reporter talks about the GRC voting on the Patch Act in New York. Torres calls Sam and tells him that Karli is in New York.
During the GRC meeting, the lights go out, meaning the Flag Smashers are about to strike.
Sam opens the suitcase, a gift Bucky brought courtesy of the Dora Milaje.