Following the events of The Batman, a post-flood Gotham City is experiencing a power vacuum in its criminal organizations after the death of Carmine Falcon. In the midst of all this chaos, low-level mobster Oswald "Oz" Cobb, nicknamed "The Penguin", attempts to make a grab for control of the streets, which brings him into direct conflict with Carmine's daughter, Sofia Falcone, and the Maroni Crime Family.
In the wake of Carmine Falcone’s death, Oz attempts to legitimize himself among Gotham’s criminal underworld.
Sofia works to secure her family’s strength, while Oz attempts to play both the Falcone and Maroni families to his advantage.
Hoping to control the future of Gotham’s drug trade, Oz and Sofia must first address the skeletons in their closet. Meanwhile, Victor is torn between his new life and what remains of his old.
Confronting the events that turned her into "The Hangman" – and led to a decade-long fight to survive in Arkham State Hospital – Sofia makes plans for a more hopeful future.
With his nascent operation at stake, Oz makes a desperate move to turn the tables. Meanwhile, Sofia strives to build a new legacy for herself.
Despite his enemies’ attempts to smoke him out, Oz seeks to expand his reach in the city. Meanwhile, Victor crosses paths with a former adversary.
Oz fights to preserve everything he’s built, while Sofia makes a shocking discovery.
Truths are laid bare as Oz Cobb nears the end of his journey and his power struggle with Sofia comes to a head.
