In the season finale of The Boys, super terrorists are on the loose, while Butcher decides to take his vendetta against Homelander directly to the Supe himself.
In Syria, US troops discover a drug warehouse and are about to search it when Homelander arrives and takes over. He brutally kills the terrorists inside and grabs a sample of Compound V.
Secretary of Defense Robert Singer confronts Madelyn Stillwell about how a Syrian gang got their hands on Vought’s drug, but she denies any involvement. She points out that only her Supes, who get their powers from Compound V, can help.
M.M. tries to sell the story of Vought creating super villains to a newspaper, but they reject it. On a call with Raynor, Butcher receives three upsetting developments: the CIA has agreed to classify Compound V to make Vought happy, the bill to put Supes in the military has been signed into law, and The Boys are now wanted fugitives.
Butcher takes Hughie to meet Grace Mallory, the founder of The Boys, but she refuses to help, even when Butcher says she owes him. She explains that their deal ended when Lamplighter incinerated her grandchildren, and admits regret for training Butcher to go after Homelander. Grace does reveal Madelyn’s connection to Homelander and that she may know his weakness. Before they leave, Grace pleads with Butcher not to drag the rest of The Boys down with him.
While driving past their motel, Butcher reveals that Frenchie, M.M., and Kimiko have been captured by a black ops unit, most likely hired by Vought. Hughie wants to save his friends, but Butcher is determined to find Madelyn. Hughie realizes that Butcher has been using him this entire time and decides to rescue The Boys himself.
As A-Train is shopping for new clothes, he is followed around the store by a white security guard. Despite being recognized by fans, the guard does not back off until he is caught harassing A-Train on camera. Later, A-Train’s brother Nathan discovers that he has been using Compound V again and leaves in disgust. The Deep, on the other hand, is devastated to learn that Vought wants him to stay in Sandusky, Ohio and has even made promotional material based on his transfer to the city. He shaves his head and chest in frustration, berating himself for being naive.
Starlight confronts her mother Donna and learns the truth about her experimentation with Compound V. Donna admits that Vought paid for the experiments and promised Annie an extraordinary life, but Annie is angry that she was never given the choice to decide her own path. She also learns that her father left because he could not handle what he did to his daughter. Later, Hughie asks Annie to use her security clearance to stop Naqib, but she is hesitant due to the lies Hughie told her. Hughie tells her that she is a superhero, but she is not convinced and walks away.
At a corporate party, Annie gets drunk and flirts with a military man, only to end up vomiting in the bathroom. Queen Maeve finds her and tells her that she was once like Annie, until she turned her back on her morals and became a puppet for Vought. Maeve encourages Annie to be herself and to be a real hero for The Seven.
At the corporate party, Mr. Edgar, the CEO of Vought, rewards Madelyn with a raise and moves her down to his floor, implying that she will be the one to take over Vought when he moves to Belize. Homelander confronts her about Vogelbaum’s story, suspecting that she was responsible for the appearance of Supe terrorists. He reveals that he was the one who created the terrorists by using A-Train to distribute Compound V around the world, creating villains that only The Seven could fight.
Madelyn is shocked but quickly recovers, taking Homelander into her office where he gives her a very quick “session” of intercourse. Afterward, she tells him about Edgar’s offer, which worries Homelander. She reassures him that she will still be there for him, and the two promise to never keep secrets from each other. Madelyn apologizes for hiding the fact that Becca had a miscarriage.
Upon returning to the motel, Hughie is captured and thrown into a cage with Frenchie and M.M. The three of them manage to escape using a wire that Hughie had hidden in his retainer as a lock pick.
As they search for Kimiko, they are ambushed by guards and Frenchie is shot in the shoulder. M.M. grabs a weakened Kimiko while Hughie and Starlight deal with A-Train. Starlight is able to use her powers to keep A-Train at bay, but he is still faster than her and knocks her down. As A-Train is about to attack Hughie, he suffers a heart attack due to his abuse of Compound V. Before he collapses, he admits to killing Popclaw and blames Hughie for it. Hughie begins CPR until Starlight takes over, telling him to run before Vought sends reinforcements.
Butcher confronts Madelyn in her home, believing her to be Homelander’s weakness. He straps her to a vest filled with explosives and brings along her infant son, Teddy, hoping that Homelander will not harm the child. While Madelyn pleads with Homelander to take her son, he taunts Butcher by bragging about sleeping with Becca. When asked about his endgame, Butcher reveals that he only wants to hurt Homelander by killing the person he loves. Homelander asks Butcher if he has any evidence proving his involvement in Becca’s death, or if he based his vendetta on a hunch. Butcher is unable to answer, leading Homelander to question Madelyn about the inconsistencies in her story about Becca’s miscarriage and Vogelbaum’s claim that Becca died in childbirth. Madelyn apologizes for lying and admits that she is afraid of Homelander. He thanks her for being honest and kills her by shooting his laser vision through her eyes and head.
With his only leverage against Homelander gone, Butcher detonates the explosives, only to wake up on someone’s lawn with Homelander standing over him. At that moment, Becca emerges from her house with her son, who Homelander reveals is his own. The boy’s eyes glow red, just like Homelander’s.