In this intense penultimate episode of The Penguin, titled “Top Hat,” we’re taken deep into Oswald Cobblepot’s dark and twisted origins, set against a backdrop of Gotham’s crime-ridden landscape. This episode delivers a brutal look at Oswald’s transformation from an outcast child to the ruthless figure he’s become, while also unraveling the personal vendettas and traumatic memories haunting Gotham’s underworld.

Flashbacks Reveal Oswald’s Grim Childhood

The episode opens with a flashback to young Oswald’s life, laying bare the pain and alienation he endured from a young age. Born with a deformed leg, Oswald was often sidelined by his brothers and forced to watch the world from a distance. His fractured childhood was marked by a sense of isolation and an unsettling closeness to his mother, who became his entire world. In an iconic scene, they watch Top Hat together, sharing a rare moment of joy in an otherwise bleak existence. But this closeness is underscored by a disturbing edge, as young Oz is captivated by the criminal allure of Rex Calabrese, a local gangster who embodies the power and influence Oz craves.

As Oswald’s brothers tease him, pushing him to play along in their dangerous escapades, Oz’s resentment festers. In a moment of shocking, unconscious cruelty, he locks his brothers in an abandoned tunnel, unknowingly sealing their fates. It’s a tragic accident born of deep-seated bitterness, setting the stage for Oswald’s future descent into villainy. These flashbacks add layers to his character, highlighting how Gotham’s unforgiving environment sculpted him into the “monster” he is today.

A Betrayal in the Present

Back in the present, Oz returns to his hideout to find it ransacked, his mother gone, and his ally Victor knocked out cold. Sofia Falcone, his relentless rival, has kidnapped Oz’s mother, Francis, planning to use her as leverage. Sal Maroni, another looming threat, arrives soon after with his goons to deal a crushing blow to Oz. However, in a dramatic standoff, Oz’s scrappy gang fights back fiercely, eventually managing to overcome Maroni’s forces. In a darkly satisfying moment, Oz stands victorious over Maroni, who succumbs to a heart attack — a somewhat anticlimactic death that only underscores Oz’s relentless will to survive.

Sofia’s Cruel Interrogation of Francis

Meanwhile, Sofia isn’t pulling any punches with Francis, employing both psychological manipulation and intimidation in an attempt to break her. But Francis proves surprisingly resilient, refusing to give in to Sofia’s taunts. Sofia is also forced to confront the grim reality of her family’s legacy. Visiting her cousin Gia, Sofia comes face-to-face with the lingering trauma of her family’s sins. Gia, who has grown suspicious of Sofia, reminds her of a dark moment from her past — a moment Sofia struggles to rationalize. This encounter forces Sofia to admit that she’s still caught in her father’s twisted game, doomed to repeat his crimes despite her attempts to escape his shadow.

Determined to rescue his mother and end the deadly feud, Oz makes a bold offer to Sofia: control over his entire operation in exchange for Francis’s safety. Sofia sees through the offer as a trap, yet can’t resist the chance to gain ultimate power. The episode crescendos in a high-stakes confrontation, with Sofia planning to “end the game” by setting an explosive trap for Oz.

As Oz falls into the same pit he trapped his brothers in years ago, he finds a way to escape once more, his survival instinct as potent as ever. The final moments bring us full circle, returning to that haunting childhood memory of Oz dancing with his mother. Yet the scene is now tinged with the darkness and regret that have defined his life. Emerging from the ruins, Oz is greeted by a corrupt cop with an ominous invitation to a “final showdown.”

Themes and Symbolism

“Top Hat” artfully weaves themes of family betrayal, cyclical violence, and the inescapable weight of the past. The episode explores how both Oz and Sofia are haunted by their respective families’ legacies, each caught in a web of trauma and violence they struggle to escape. The flashbacks also reveal how Oswald’s twisted loyalty to his mother, coupled with his resentment, forged him into a man capable of immense cruelty — a reflection of Gotham’s brutal, dog-eat-dog environment.

What’s Next?

The episode closes on a tantalizing cliffhanger, setting up the season finale for an explosive showdown between Oz and Sofia. With everything on the line, The Penguin promises a thrilling conclusion to its debut season, as the titular antihero faces off against his fiercest rivals and his own monstrous past.