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Sofia Falcone and Oz Cobb in cropped key mid-season key art for The Penguin

The Penguin’s Ending (& How It Sets Up The Batman – Part II), Explained

Warning: The following article contains major spoilers for The Penguin Episode 8, “A Great or Little Thing.”

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Bat-Verse spinoff The Penguin just brought its eight-episode run to a close with a finale full of twists and turns ā€“ and it’s a lot to take in. So, below, we’ve explained every major narrative development from The Penguin‘s ending, and how they set up The Batman ā€“ Part II.

Why Does Oz Cobb Kill Victor Aguilar?

Victor Aguilar in The Penguin Episode 2

Easily the most shocking scene in The Penguin Episode 8’s home stretch sees Oz Cobb murder his loyal protĆ©gĆ© Victor Aguilar. So, why does Oz kill Vic? After all, the gangster himself acknowledges that Vic played a crucial role in his victory over Sofia Falcone. He’s clearly a useful ally. Yet, ultimately, Oz decides Vic has to go because his familial affection for the poor kid is a vulnerability his enemies could exploit in the future (as Sofia did with Oz’s mother, Francis). “That’s the thing about family: it’s your strength and it drives you, fā€”k if it don’t make you weak, too,” Oz rasps, as he strangles Vic. “And I can’t have that no more.” It’s a decidedly drastic step that’s nevertheless in character for a psychopath who bumped off his own brothers as a child! So, when Oz returns in The Batman ā€“ Part II, he’ll be flying solo.

What’s the Significance of the Letter Sofia Falcone Receives?

The epilogue of “A Great or Little Thing” finds Sofia Falcone (or Sofia Gigante, as she prefers to be known now) back in Arkham State Hospital. Here, she receives a letter from her half-sister, Selina Kyle ā€“ better known to viewers as Catwoman! The Penguin Episode 8 doesn’t reveal the contents of Selina’s letter, however, it’s enough to make Sofia smile. Does this mean The Batman ā€“ Part II will involve a Sofia/Selina team-up? Don’t rule it out.

Related: The Penguin: Is Victor Aguilar Secretly a Major Batman Villain?

Is Oz Cobb Running Gotham’s Criminal Underworld Now?

Oz Cobb illuminated by a flaming object in his hand in The Penguin

He sure is. The final scene in The Penguin Episode 8 depicts a sharply dressed Oz Cobb looking out over his hard-won criminal empire from the luxurious La Couronne Hotel’s penthouse apartment. Oz has united Gotham’s various criminal families by convincing every second-in-command in town to rise up ā€“ and pledge their organizations to him. The devious crook has his beak inside City Hall too, thanks to his dealings with corrupt councilman Sebastian Hady. So, all told, Oz is now a major player in both legitimate and not-so-legitimate circles. Not for nothing, he’s also got his lover Eve Karlo on hand to cosplay as his mother, Francis, and praise him for taking the Gotham underworld’s top job (it’s as icky as it sounds). Bottom line? It’s a more confident and far more powerful Penguin who’s turning up in The Batman ā€“ Part II!

Why Does the Bat-Signal Appear in the Sky at the End?

Eve Karlo gets the last line in “A Great or Little Thing” ā€“ and it’s a classic case of someone speaking too soon. “Gotham is yours, sweetheart,” she purrs, as she and Oz waltz to an old-timey tune. “Nothing’s standing in your way now.” And she’d be right… except that the camera then pulls out to reveal the Gotham skyline, above which the Bat-Signal suddenly flickers to life. The symbolism here is far from subtle; the clear implication is that Oz’s ascent to the top of Gotham’s crime ladder has put him on a collision course with Batman. So, even though Robert Pattinson’s Dark Knight doesn’t show up in The Penguin, he’s almost certainly set aside a batarang with Oz Cobb’s name on it for The Batman ā€“ Part II‘s 2026 release.

Related: The Penguin: Is Ozā€™s Lover Eve Karlo a Character From DC Comics?

Does Penguin Have a Post-Credits Scene?

Oz Cobb standing in the rain in The Penguin

No, The Penguin Episode 8 doesn’t include a post-credits scene. This is in keeping with the wider Bat-Verse to date; The Batman also lacked a stinger. So, if you’re trying to ferret out clues regarding what to expect from The Batman ā€“ Part II, focus your energies on what happens before Episode 8’s credits roll.

All eight episodes of The Penguin are currently streaming on HBO and Max.


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Image of Leon Miller
Leon Miller
Leon is a freelance contributor at The Escapist, covering movies, TV, video games, and comics. Active in the industry since 2016, Leon's previous by-lines include articles for Polygon, Popverse, Screen Rant, CBR, Dexerto, Cultured Vultures, PanelxPanel, Taste of Cinema, and more.