Flint discovers a thief amongst his crew. Eleanor must make a difficult decision. John hides with Max, inside a brothel.

Bonny confesses. Rackham makes a life-altering decision. Richard forces Eleanor's hand. A chess match is organized for Flint and the Walrus crew.

Flint comes clean with Gates. Randall's actions cause problems for Silver. Eleanor suffers a loss. Max helps Rackham. Vane faces his biggest challenge.

The hunt for the Urca begins. Things change for Eleanor. Bonny and Rackham are haunted by their past sins.

Flint and Miranda prepare for a tough go of it. Silver becomes enlightened. Eleanor learns Max's secret. Vane makes a move.

Flint acquires an unlikely ally. Vane's crew seeks a sea change. Silver makes a sacrifice.

Flint and Silver return to Nassau, and a legend is born. A change in terms puts Rackham and Bonny in jeopardy. Vane’s mission evolves. Eleanor confides in Rogers.

Eleanor puts everything on the line to save Rogers. Billy recruits allies. Flint and Silver prepare for war.

Rogers and his forces come for the pirates. Rackham and Bonny face impossible odds. Silver demands answers from Flint. Billy crowns a king.