Plot

Freydis returns to Kattegat and joins a sacred order. Canute solidifies his power in England. Kåre revisits the holy site of a childhood trauma.

Freydís reaches the healer's hut and confronts Kåre who tells her to warn Haakon that he is coming to kill them all. Freydís returns to Kattegat and trains to become a shield-maiden with Altöra, Haakon's second-in-command. Haakon recounts her own vision of The Seer and claims that Freydís is the "Last Daughter of Uppsala". Meanwhile, Kåre reaches Uppsala and receives his own mysterious vision from The Seer. Olaf leaves England with his forces and heads to Denmark whilst Leif and Harald return to Kattegat. In Denmark, Olaf asks Canute's Mercian wife, Queen Ælfgifu, for her support in becoming the ruler of Norway. Harald's forces soon arrive in Kattegat and Leif, Freydís and Liv reunite, now the only remaining Greenlanders. Freydís later beats Altöra in single combat and becomes a shield-maiden by pledging herself to protect Kattegat. In London, Canute makes Godwin and Emma his advisors, with the latter informing him that the ealdormen are close to rebellion. Canute takes the ealdormen captive and reveals to them that he will restore their titles in return for their loyalty. Canute and Emma later become romantically involved but Canute becomes concerned after receiving a letter from Denmark.

Freydis reaches the healer's hut and finds Ysra brutalized and murdered. She also finds the entire pagan village murdered and their heads cut and decorated on stones around the village.

She confronts Kare who was sitting on a stone with the healer's baby. Kare learns that Freydis has been to Uppsala and had a vision of the Seer who called her "the Last". He also sees that Uppsala priests had given her a sword. Kare spares Freydis, who tells her to warn Haakon that he is coming to kill them all Freydis returns to Kattegat and trains to become a shield-maiden with Altora (Annabelle Mandeng), Haakon's second-in-command. Haakon dismisses Kare's warning as she reckons that he does not have the forces to threaten Kattegat.

Haakon learns about Freydis's vision with the Seer. Haakon recounts her own vision of The Seer (where she saw a Tsunami coming at Kattegat in which only one woman survives) and claims that Freydis is the "Last Daughter of Uppsala", the woman who survived the Tsunami. Meanwhile, Kare reaches Uppsala and receives his own mysterious vision from The Seer. Kare was a Pagan once and last visited Uppsala with his parents when he was a little boy. Kare wanted to know between him and Freydis, whose cause was more righteous and who would emerge victorious at the end. Kare slaughters the priests of Uppsala.

Olaf leaves England with his forces and heads to Denmark whilst Leif and Harald return to Kattegat. Olaf now wants to be King of Norway, which he knows is against Canute's wishes. But Olaf calculates that he is sailing with more than half of Canute's army and so he would not have enough forces to mount a challenge.

In Denmark, Olaf asks Canute's Mercian wife, Queen Aelfgifu (Pollyanna McIntosh), for her support in becoming the ruler of Norway. Olaf tells Aelfgifu that Canute is besotted with Emma, who is the Queen of England. Aelfgifu is a Mercian (the least secure of English shires), while Emma is Norman.

Harald's forces soon arrive in Kattegat and Leif, Freydis and Liv reunite, now the only remaining Greenlanders. Harald presents a gift of wealth from Canute to Haakon. Harald says that Canute promised to make him the next King of Norway and asks for her support. Haakon says that Olaf will be a problem in this. Kattegat is an independent Kingdom between Denmark and Norway. Freydis later beats Altora in single combat and becomes a shield-maiden by pledging herself to protect Kattegat. Harald tries to counsel Freydis that not all Christians are bad like Kare. They again have sex.

Arne, son of Gorm is livid with Leif for killing his father on the boat. He insults Leif by calling him a Christian sympathizer.

Canute offers to Emma that she can leave for Normandy whenever she wishes. Emma says that England is her home now and that she wishes to remain. Canute asks Emma to be his advisor and says that he wants England to accept him as one of their own and wants Emma's help to accomplish that. He also wants access to England's wealth. Emma says that before the invasion England was struggling under the weight of crippling taxes. She suggests a new method with a simple levy on each household. Emma argues that while the tax is small, but gathered across every household in England, it is enough to build an army, a fleet and an empire.

In London, Canute makes Godwin and Emma his advisers, with the latter informing him that the Ealdormen are close to rebellion. Canute takes the Ealdormen captive and reveals to them that he will restore their titles in return for their loyalty. Canute promises to rebuild the London bridge, and protection from raids that come regularly from the North.

Canute and Emma later become romantically involved but Canute becomes concerned after receiving a letter from Denmark.