A news broadcast voiceover plays as the GRC meeting is still shut down.

Bucky is already in New York, looking for Karli. Sharon disguises herself as a stranger, but when facing Bucky, she reveals who she is.

Karli gives the go-ahead for an explosive stink bomb. Just as everyone from the meeting evacuates, a Flag Smasher confronts them in the hallway. Then, Sam flies in through the window, dressed as Captain America.

Sam stays in contact with Bucky and Sharon. They realize that Karli wants everybody to leave the building. Batroc intercepts Sam, and they begin fighting.

A stranger hands Bucky her phone, saying Karli is on the other line. Karli and Bucky talk.

The building evacuation continues as the GRC members climb into police vans. A guard locks the vehicle doors, and Sharon notices before the vans drive away.

Sam and Batroc continue fighting. Bucky tries to convince Karli to stand down, but she reveals the phone call was a distraction.

Bucky gets on a motorcycle and goes after the vans. Sharon uses mercury vapor to take down a Flag Smasher.

Sharon exits the building and tells Sam to hurry. Sam knocks Batroc out of the way and flies out the building, going after a helicopter with GRC hostages. He chases the helicopter around New York.

Karli suggests to a group of Flag Smashers that they might kill the hostages.

Sam manages to save a helicopter with a few people inside before it crashes.

Karli and a few other Flag Smashers intercept the police vans, taking control of the vehicles. Bucky arrives just as the cars are about to back out. Karli creates a diversion by lighting a vehicle on fire, forcing Bucky to try to save the people inside.

Walker arrives and starts fighting with Karli. Bucky keeps trying to break open the van. He is eventually successful, and after that, he starts fighting other Flag Smashers.

The other helicopter manages to knock Sam into the water, but Sam saves himself. He makes contact with one of the hostages on board, Ayla, because she knows how to fly a helicopter. Sam knocks out the Flag Smasher pilot, and Ayla takes control of the helicopter.

Walker and Karli continue fighting until Karli manages to knock him down long enough to hop into the other van and drive away. Bucky is still fighting other Flag Smashers.

Karli sets the van to drive over a building and crash to the ground. She manages to escape before it does so. Walker sees Karli get away, and he must choose between pursuing her or saving the people inside the vehicle. He chooses the latter, but Karli and another Flag Smasher intercept him.

The van almost topples over, but Sam arrives just in time to pull it back. He stabilizes the vehicle, and the people watching cheer. Sam joins the fight on the ground, but the group slows down because Batroc fires smoky explosions. Sharon looks on.

Sam notices Karli and the Flag Smashers run off. He pursues them with Walker and Bucky. At one point, Walker and Bucky split from Sam to cover more ground.

Sharon confronts Karli, revealing herself to be the Power Broker. Batroc arrives and threatens Sharon to expose her identity. Sharon shoots Batroc, and Karli shoots Sharon. Sam hears the commotion and arrives. He tries to get Karli to back down, but she does not.

Karli tries to fight Sam, but Sam only defends himself, refusing to fight back.

A few Flag Smashers arrive at a meet-up point, but it turns out, Walker and Bucky set it up. Police arrive and arrest them Flag Smashers.

Karli is frustrated that Sam will not fight her. She eventually knocks him down and aims her gun at him, but Sharon shoots Karli before Karli can shoot Sam. Karli dies in Sam's arms.

Sam brings Karli's body to the police and medics outside. He confronts the GRC representatives about their plans. During this confrontation, Isaiah, Torres, and Sarah watch on their televisions from their respective homes.

Afterward, Sam and Bucky check on Sharon, who is wounded from Karli's gunshot. They insist she gets medical help, but Sharon refuses. So, Bucky and Sharon leave the scene.

Someone asks Sam if he can help someone stuck in the Hudson River, and he agrees. People are now referring to Sam as Captain America.

As police load the remaining Flag Smashers in a vehicle, one guard admits to supporting their cause. Then, the van explodes, killing the Flag Smashers inside.

Zemo hears of the bombing from the Raft, a high-security prison. The show implies he might be behind the bombing.

Valentina and Walker's wife wait for Walker as he gets changed. He walks out wearing Captain America's suit but in black. Walker is now a US Agent, working for Valentina.

Bucky visits Yori and confesses that he murdered his son as the Winter Soldier.

Dr. Raynor walks into her office and finds a gift from Bucky. It is his notebook with all the names of people he sought to make amends with crossed out.

Bucky walks by his usual lunch spot with Yori and watches Yori and the waitress from the window.

Sam visits Isaiah. They talk about what happened in New York the other day.

Sam invites Isaiah and his grandson to the Captain America exhibit. Sam shows them a portion dedicated to Isaiah. Isaiah embraces Sam and cries.

In Louisiana, Sam and Sarah officially reopen their family business. Many people, including Bucky, arrive to celebrate.

A mid-credits scene shows Sharon receiving a full pardon and returning to her job as Agent Carter. After the hearing, Sharon makes a phone call, showing that she is still active as the Power Broker.