Miranda and Arthur now live in the Hollywood Hills under constant paparazzi attention, hosting a dinner party that is meant to celebrate their third anniversary and Arthur’s box-office success. Miranda feels isolated among the industry guests and notices Arthur avoiding her, while Elizabeth Colton—Arthur’s glamorous costar—sits close to him and keeps watching Miranda.

As the conversation turns to Miranda’s “private” comic project, she explains that the work itself matters more to her than publishing. When guests press for Arthur and Miranda’s “how-we-met” story, Miranda escapes outside with their Pomeranian, Luli, and listens through the doors as Arthur entertainingly retells a sanitized version of how Miranda showed up with suitcases and never left. From the yard, Miranda sees Elizabeth touch Arthur intimately and realizes Arthur and Elizabeth are involved, and that the marriage has been effectively over for some time.

Clark Thompson joins Miranda outside for a cigarette and, with quiet sympathy, implies he understands the situation. Later, after guests leave, Elizabeth remains passed out in the house. Miranda tries to confront Arthur about talking, but Arthur refuses and goes to bed, leaving Miranda feeling like a stranger in her own life.

Restless at three a.m., Miranda goes outside and encounters paparazzo Jeevan Chaudhary, who initially lowers his camera and talks with her about gossip and work. When Miranda lets her guard down, Jeevan abruptly photographs her crying and smoking, creating the image that will feed rumors of Arthur’s infidelity. Shaken, Miranda returns inside, finds an unfinished letter Arthur has started to write to a childhood friend, and takes Clark’s glass paperweight as something to keep.

Near dawn, Miranda returns to her Station Eleven pages, adding a Pomeranian companion for Dr. Eleven and writing an assassin’s note that echoes her own displacement: “We were not meant for this world. Let us go home.” Elizabeth wakes and comes into Miranda’s study; sitting on the floor amid Miranda’s pinned sketches and outlines, Elizabeth admits sorrow without fully renouncing what happened. Miranda recognizes the end that’s coming—divorce, separation, and a new, armored independence—but in the present moment both women sit silently with the work surrounding them, while Luli watches the window and Station Eleven fills the room.