The Boys Season 3 Episode 1: Payback

Twelve months after Season 2, The Boys work as contractors for Victoria Neuman's Federal Bureau of Superhuman Affairs; Hughie serves as their liaison, while Butcher, Frenchie, and Kimiko conduct the field operation. During an operation targeting the shrinking supe Termite, Termite accidentally kills his sexual partner when he returns to normal size; Butcher captures Termite rather than killing him, because the team is operating under Bureau rules.

Vought declines to pursue Termite after securing him an endorsement arrangement and sends him to a wellness retreat, angering Butcher and demonstrating the Bureau's limits. Stan Edgar offers Starlight the co-captaincy of the Seven alongside Homelander. She accepts after considering the influence the role could give her, while Homelander reacts angrily to the demotion in status. Maeve gives Butcher files on Soldier Boy and the former team Payback, proposing that the weapon said to have killed Soldier Boy could be used against Homelander.

She also gives Butcher vials of V-24 (Temp V), which grants temporary powers for 24 hours. Butcher visits Ryan, who is being cared for by Grace Mallory. Ryan tells Butcher about nightmares involving Homelander; Mallory tells Butcher he could leave the anti-supe fight and focus on Ryan. M.M., although he has left the team and tries to reconnect with his former family life, is shown keeping a closet covered with supe-related clippings, establishing that he remains preoccupied with the fight.

In the final sequence, Hughie follows Tony as he confronts Victoria Neuman about her former identity, Nadia, and Red River. Neuman kills Tony with her powers; Hughie witnesses it and realizes that Neuman is the head-exploding supe.

In the final sequence, Hughie follows Tony as he confronts Victoria Neuman about her former identity, Nadia, and Red River. Neuman kills Tony with her powers. Hughie witnesses this and realizes that Neuman is the head-exploding supe. The ending leaves Hughie shocked and destroys his trust in his boss and apparent political ally. This revelation directly leaves unresolved the question of how Hughie will act on this knowledge and what it means for Neuman's position.