The second episode opens with a series of brief scenes, catching us up with our key players. Olaf and Svein have chased down some Heathens, questioning one about the Jomsvikings, before Olaf tells Svein that to be King, he must bloody his sword. Svein kills the man.
Freydis arrives in Jomsborg where she is recognized by several people there and introduced to Harekr and Gudrid, a married couple who are the leaders of Jomsborg.
Leif and Harald arrive in Novgorod. Leif learns about opium and Harald finds his uncle Yaroslav. When Yaroslav’s guards won’t let Harald speak to him, Harald jumps into the fighting arena, and yells that the fight needs “a Viking named Prince Harald Sigurdsson, great-grandson of Harald Finehair and blood relative of Yaroslav the Wise.”
And in London, Earl Godwin is torturing a man who tried to assassinate Emma to find out who else was behind the plot. When the man says he knows nothing more, Godwin has them burn out his eye as the man says he heard someone call his contact “Bear.”
Back in Jomsborg, Freydis is admiring the way the Jomsvikings are being trained. Harekr asks if she’ll share some of her training. She agrees and steps into the practice area, where she quickly defeats several attackers. She and Gudrid start talking about families, and Gudrid says Freydis’ baby will be one to celebrate, explaining she knew Freydis was pregnant by the way she protected her belly while fighting.
Harald explains his situation to Yaroslav, who says he’s unable to help because a group known as Pechenegs have been blocking the route to Constantinople and right now, he can’t afford to upset Forkbeard. He suggests Harald should either go swear fealty to Olaf or “do what Vikings have always done – reinvent themselves.”
In Jomsborg, Harekr talks to Freydis and asks her to be the new Gudjia (priestess) of the temple. Freydis has her doubts because she ran from Kattegat.
Leif is looking out a window and sees a comet overhead. A woman named Mariam comes over to speak with him. She says she has come to Novgorod to find rocks that fall from the sky and explains to him how what the comet is. She then excuses herself, coughing, saying it’s too cold for her by the window.
Jorundr returns to Jomsborg with more refugees. Freydis notes that they are required to turn in their weapons as they get off their ship, before they are given food and clothing. Harekr points out they don’t know for sure who they can trust, indicating there may be Christians hidden amongst the refugees. He tells her they take the refugees to the forest where they have places to live and can work, helping make new weapons that will be needed to fight the Christians. Freydis goes back to her hut and finds the robes of a Gudjia laid out for her. She picks them up, wondering what to do.
King Svein and Jarl Olaf return to Kattegat, where they are greeted by Svein’s mother, Queen Aelfgifu. She looks at the blood still on Svein’s face, and Svein explains he killed a Pagan. Svein wants Olaf to eat with them that night, then leaves. Aelfgifu tells Olaf she won’t allow any dogs at her table.
Leif sees Liv entering the opium den and speaks to the proprietor before leaving and running into Harald, who has decided he wants to buy furs to take to Constantinople to sell, so he can raise cash to put an army together. To get the money to buy pelts, Harald needs Leif to join him in the fighting arena, where they can gamble on their ability to win. Leif balks at this, so Harald challenges two men, saying he will fight them himself.
When one of the two fighters becomes is unable to continue, then promoter throws a fresh fighter in the ring. Leif protests, but when the proprietor stands his ground, Leif jumps into the fray, where he ends up killing a man. The men running the fight grab all the money that has been bet on the match and run out of the tent, leaving Harald with no money to buy his furs.
Later that evening, Yaroslav finds Harald and says that he has an idea to help Harald obtain the capital he needs. Yaroslav claims he has something he must get to the Emporer of Constantinople and adds he feels Harald is the man who can take it there.
Olaf joins Aelfgifu in her hall. She explains her son will not be joining him, as Olaf has exhausted him. She asks why he’s hunting the Jomsvikings. He points out it’s because they’re giving Heathens refuge, and he thinks Harald is amongst them. He then flirts with Aelfgifu, telling her Canute was wrong to throw her over for Queen Emma. When Aelfgifu says such talk is dangerous, Olaf replies its just the two of them there, a Queen and her dog.
Back in London, Earl Godwin and Emma return to the prison, where they find that all the prisoners have been “slaughtered like cattle,” including the man Godwin had been questioning.
Freydis leaves her hut wearing the Gudjia robes with her forearms painted white. Harekr is clearly pleased. Gudrid carrying Freydis’ sword, leads Freydis into the temple. Freydis then proceeds to the top of a nearby tower. A woman, vocalizing a wordless song, brings many people from the forest to the tower. Freydis then raises her blade and declares that to the people that Jomsborg is safe, and that it is their new Uppsala. The crowds cheer.
Leif goes to the opium den and partakes, hoping to see Liv again. When she appears to him, she asks him to come with her, so he follows the hallucination outside into a fierce storm.”She” leads him up a tower to its roof, where she calls for him to join her in Valhalla. She continues backing up, beckoning to Leif until she is standing off the roof, floating high above the ground. Leif continues to follow, until he finds the cross he was given in the first season in his coat. As he looks at it, “Liv” frowns and then disappears. Leif is distraught and starts towards the edge anew when he is struck by lightning and collapses on the roof of the tower.