Ray and Ani attempt to escape their desperate situation while Frank ties up some loose ends.
- Ani obsesses over the missing four days in her life while in the motel with Ray. Ray explains how he killed the false rapist, and looks at his cell phone photos of Chad. In the early morning they dress quietly.
Frank and Jordan meet. He is trying to get her to leave town, she refuses. He gets angry and acts likes it's a breakup, Jordan is adamant they are together, even as both toss their rings out the door. Frank says he has a play and can finish this. She will go with Nails, he will join her in two weeks, with a red rose in his lapel. He gives Nails a package of cash and the two depart.
Lt Burris is at Woodrugh's crime scene. He answers the call from Ray on Paul's phone, Ray says he knows about the diamonds, Burris wants to meet. Ani and Ray are stunned, they know Paul saved them and deserved better. Ray has an inspiration, and realizes the movie set photographer is the brother.
Frank goes to the Chessani mansion, the Mayor is floating dead in his pool. The spaced out Ukrainian wife is there and mentions there was an arguement with a Russian man. Semyon figures Tony arranged the scene, and advises her she will be blamed for the Mayor's death.
Velcoro and Bezzerides enter an apartment, they see the crows head mask, a makeshift darkroom with photos of Burris and Holloway. The sister Erica/Laura is handcuffed to the fireplace. Freed, she talks and is recorded. She was one of the party girls and found out about Caspere's diamonds, then changed her appearance to get the admin job in Caspere's office. She had found her brother Leonard after many years apart and let him know.
They were going to torture Caspere to find out who else was involved in their parent's death, but then got carried away. But Caspere did tell them everything else. Len was now going to meet Holloway to trade the hard drive for the diamonds, but the hard drive had been erased.
Osip and Semyon have an angry phone call. Velcoro phones Semyon.
Bezzerides drops the girl at the bus station, tells her to go to Seattle and forget her brother.
Frank goes to the sad girl bar. The bar owner with the scarred face shows him a room in the back, Frank unloads a duffle bag full of heavy weapons. He says he will sign the bar over to her.
Velcoro goes to the train station in cowboy hat and shades. He comes up behind Len and says he knows everything, he urges him not to commit suicide here. Holloway arrives casually dressed, Burris is there too hiding around a corner. Holloway sits with Velcoro, Len is on the other side of the bench. Ray wants to be cleared with the stones in return for the hard drive and documents. Ray gets answers as Holloway hands over the diamonds.
Len gets angry when he hears that his sister was Caspere's illegitimate daughter, and attacks Holloway with a knife. Burris starts shooting, Ani is there and tackles him. Ray's phone falls to the floor and someone steps on it. Bezzerides helps Velcoro escape as other cops come and shoot both Len and Holloway as they struggle. They go to Semyon's hideout.
Frank asks Ani to go to Venezuela and tell Jordan he won't be coming. Frank then tells Ray Blake was the guy who named the rapist. He asks for help in getting the money and shows him the plan.
Ani talks to bar owner, they compare notes on Ray and Frank. The woman, Felicia, can get them to Venezuela through Mexico. She owes Ray a favor for catching the guy who cut her face.
Frank and Ray drive to the $12mil exchange. Ani goes to Dr. Pitlar's . The doctor is dead and his files empty. At the meet, Frank and Ray go in with tear gas and big guns, shooting anyone who moves. Frank kills Osip. They find the cash and load it up. At an empty parking lot the two go their separate ways, to meet down south later. Frank burns the SUV they drove.
Ray calls Ani, says he is 40 miles away and has their retirement bonus.
Frank trades his cash for $3.5 mil in diamonds, as arranged. Frank then picks up his passports from the pastry shop, they provide an Audi and shake hands.
Ray actually goes to his son's school, he sees Chad from a distance with the elder Velcoro's police badge, Ray salutes him and leaves. Returning to his car he notices the red LED of a device clamped to the car frame. Looking and waiting he sees no one watching. Leaving the transponder on he speeds away, a black SUV follows.
Frank is trapped at an off ramp. The Mexicans take him at gunpoint.
As Ani finishes dying her hair black, Ray calls and tells her to go without him, and says he is being followed. Ray then tells Felicia, the bar owner, to promise to get Ani out.
In the desert, the Mexicans deliver Semyon to another SUV.
Ray speaks a farewell message into his cell. Eyeing a highway patrol he speeds up and heads up a back road.
The Mexicans are upset the clubs were burned down, the pastry shop Armenians are their partners. They take $5mil in cash and are ready to leave but then one thug wants Semyon's suit. The diamonds are hidden there so Frank starts a fight but gets stabbed. The Mexicans leave him, he staggers dripping blood.
In a redwood forest Ray is armed with a shotgun, chased by Burris and several SWAT. Burris still wants the papers and Bezzerides. Ray kills two, but curses no cell phone signal.
Ani is on the boat heading out to sea.
In the desert, Semyon hallucinates as people from his past taunt him.
Burris closes in, then Ray pauses, looks skyward, tosses his phone high into the trees, decides to go out shooting, and is shot multiple times. It is 3:21 pm on his cell phone, and still no signal. Back on the boat Ani seems to realize and begins to cry.
Frank sees Jordan and finally realizes he is dead. He drops.
Velcoro's father watches the TV news on his son and cries. Gena gets the paternity report, Ray was 99.99% the father, she cries.
Ani gives her evidence to a reporter a year later. In her voice over Tony Chessani is seen as the new Mayor of Vinci and the railway is under construction. Paul Woodrugh gets a memorial highway. Ani meets Jordan in another hotel room, they have a baby. They have a long trip ahead and depart with Nails. Into a festive street party.