Pan shows Felix the well where he plans to unleash the curse on all of Storybrooke. The people there won’t die. It’ll be much worse. They’ll be slaves to a new land with no idea about who they once were. Regina is the only hope. She must destroy the scroll while using a spell that will return Pan and Henry to their own bodies. As for Pan, he needs Felix’s heart to complete the curse. He rips it from his most loyal Lost Boy killing him instantly. Pan drops the heart into the well. It has begun.
In Fairy Tale Land past, a pregnant Snow White is concerned that the magic wardrobe that’s to keep her child, the savior, safe from the curse is a long shot. She’s asked to have faith until their story is told. Prince Charming assures his wife that the curse is just one of life’s twists and turns.
In the past, Captain Hook and Mr. Smee look for a way out of Neverland. There’s a dagger that can help them. Smee is knocked unconscious by Tinker Bell, who wants to know why they are there. Hook knows she was once a fairy and she knows he’s a pirate. There’s an obvious attraction between the two of them as they share some rum. Hook reveals his plan to eliminate the Dark One.
In the present, Tinker Bell knows that the Black Fairy’s wand is powerful enough to execute the spell they need. The Blue Fairy took it from her. Pan’s shadow is also after the wand. Hook tries to draw the entity’s attention, but he’s quickly immobilized. It’s up to Tinker Bell to save them. She uses pixie dust once again to fly high in the sky to trap the shadow in the shell. She tosses it into the fire where the creature dies in a plume of smoke. The shadow’s death brings the Blue Fairy back to life. She returns Tinker Bell to full fairy status. She also produces the Black Fairy’s wand.
Mr. Gold places a wristband on Henry that will render his father powerless once he’s back in Pan’s body. He uses the Black Fairy’s wand to lift the spirit from the body. The group heads off to find Henry, while Gold/Rumple stays behind. He has some unfinished family business with his father.
In Storybrooke past, Henry has doubts that he belongs there. Mary Margaret assures him that he does. She gives him his book of fairy tales. She saw hope when she looked inside. She lets him know that his happy ending may not be what he expects, but that’s what will make it so special. As Henry pages through the book, he can see Mary Margaret for who she truly is: Snow White.
In the present, the group finds Henry. He’s back in his own body. He has the scroll. Regina collapses soon after taking it. Elsewhere, Mr. Gold confronts his father who rips off the cuff. It doesn’t work on him. It works on Gold though. Pan places it on his son. He assures him that he will take the lives of all those he holds dear. Without magic, Gold is powerless to stop him. In the past, Rumplestiltskin tells Belle about how his ending shall not be a happy one. In the present, Mr. Gold grabs a nearby dagger. He knows what he has to do.
Regina awakens. She saw what has to be done. Pan appears to steal the scroll. He has the curse. He freezes everyone in their tracks threatening to kill them one by one. Mr. Gold appears behind him. He has words of love for both Neal and Belle. He summons his shadow, who brings him his dagger. Rumplestiltskin knows that the only way for Pan to die is if they both die. He holds him close as he plunges the dagger through his back. It goes through his body and into Rumple’s as well. Pan returns to his original form. Magic washes over father and son until both are gone. Rumplestiltskin saved them.
Belle is devastated, but there’s little time for mourning as the curse is coming. Regina can still stop it, but there’s a price. She has to say goodbye to the thing she loves most: Henry. Destroying the curse will obliterate the town of Storybrooke. Everyone will go back to where they are from and will be prevented from ever returning. They will go back to the Enchanted Forest. Henry must stay behind because he was born there. He won’t be alone. Emma will be with him, but she has to say goodbye to everyone else. She has to say goodbye to her family. There’s no other way.
Eleven years ago, Emma Swan gave birth to a baby boy. She refused to look at him stating that she can’t be a mother. In the present day, Emma hugs her own mother and father goodbye. Henry and Regina also share a heartfelt farewell. Neal vows this isn’t over. He’ll see Emma and Henry again. Regina reveals one more secret about the curse. All of Emma’s memories will disappear. She and Henry won’t remember anything over the past few years. However, Regina can provide good memories. She can make it as if Emma never gave up Henry.
Tears flow as Mary Margaret kisses her daughter on the forehead. Emma and Henry get into the car. Regina uses magic against the approaching curse cloud as Emma and Henry drive out of Storybrooke. The curse scurries out of the town. In the past, Emma lets the doctor know that she wants to hold her baby. She’s changed her mind. She wants to keep him. In the present, Emma and Henry smile at each other as they drive further from the town.
One year later, in New York City, a digital clock hits 8:15. Emma and Henry are enjoying breakfast together. Mother gives son some cinnamon for his hot chocolate. There’s a knock on her front door. It’s Hook. He says Emma’s family is in trouble. Hook tries to kiss her. It’s an attempt to make her remember. It doesn’t work. Emma simply has no idea who this guy is. She boots him out of her apartment and goes back to having breakfast with her son. Regina was right. To Emma and Henry, it’s as if Storybrooke never existed.