- "There is an ancient story amongst my people of a man who could not die. In his time, he committed terrible acts, raised a great kingdom, and then vanished."
- —Ra's al Ghul to Jim Gordon
Bruce Wayne puts the lives of Gotham Natural History Museum historian Niles Winthrop and his grandson, Alex, in danger in an attempt to uncover the meaning behind his prized knife from the auction. Meanwhile, Ra's al Ghul proves he'll take deadly measures to achieve what he wants. Also, with Sofia Falcone in town, she is on a mission to win back Gotham from Penguin.
Bruce and Alfred Pennyworth take the knife for inspection to antiquist Niles Winthrop. He is soon joined by his grandson, Alex, who takes an interest in the knife as well and set to give him the information the next day. Meanwhile, Edward Nygma is setting on to have new riddles and also sets to get his revenge on Oswald Cobblepot.
That night, Niles discovers a message from the symbols with something related to "The Demon's Head". According to a legend, a man had the ability to resurrect and went by the name of "Ra's al Ghul". Then, Ra's arrives looking for the knife. Niles has Alex hidden and when he refuses to give the location, gets his neck snapped by Ra's. Jim Gordon is called to investigate the scene when Bruce comes in and finds Niles' body. After giving away Alex's involvement, Bruce mentions to Gordon that Barbara Kean also wanted the knife. Ra's meets with Barbara and introduces her to "Anubis", a man manipulated to act like a dog to track the knife.
Cobblepot has a meeting with Sofia Falcone in his office in order to discuss business. He then receives a message from a man sent by Nygma, asking to meet in the pier. Gordon goes to interrogate Barbara but their meeting is interrupted by Bruce, who accuses Barbara of working with Ra's but she denies his involvement. They then find Alex in a library but they are attacked by the Anubis and an assassin, looking for the knife. They manage to beat them and escape to the precinct but Bruce and Alex flee. There, Gordon is met by Ra's, who claims to be a Nanda Parbat officer. While questioning, Alfred interrupts and attacks Ra's after recognizing him and then he disappears.
Sofia meets with many of Falcone's loyal mobsters but they are intercepted by Cobblepot and Victor Zsasz. While Zsasz executes them, Cobblepot tells Sofia he used her in order to get him close to the mob connections to avoid competition. He then receives another message from Nygma for another meeting as he failed to find him. Bruce and Alex flee to the Gotham Natural History Museum but they are attacked by the assassin and Anubis. Gordon arrives and kills both of them. Ra's shows up and holds Alex hostage, demanding the knife. Bruce refuses to give him the knife, as it's extremely important. An impressed Ra's kills Alex and lets himself get arrested.
Nygma shows up in Cobblepot's club, demanding to meet him. Cobblepot appears and explains that he didn't show up because his riddles are nonsense and illogical despite Nygma claiming the riddle was right. Cobblepot manages to make him see that his high intelligence is gone and he's no longer Edward Nygma. He's about to have Victor Fries to freeze him again but decides to change his mind, deciding that he will now live now not known as The Riddler and humiliated at never been the same. Sofia meets with Gordon to discuss what happened to Cobblepot. After an argument, they kiss passionately. Meanwhile, Ra's is being escorted to prison, smiling, implying this is part of his plan.
- Donal Logue (Harvey Bullock) does not appear in this episode, the second of three in which he is absent. The other episodes are Rise of the Villains: A Bitter Pill to Swallow and A Dark Knight: Things That Go Boom.
- This episode marks Ben McKenzie's screenwriting debut. He later also wrote the season 5 episode "The Trial of Jim Gordon".