11 years ago at 8:15, Emma Swan gave birth to a baby boy. It was a difficult delivery. Outside of the doctor, nurse and police officer in the room, Emma was all alone. She would remain so even after the birth because she gave the baby away. It was the most heartbreaking decision of her life. The doctor let her know that she could always change her mind, but his patient was adamant. Emma believed that she couldn't be a mother.
In the present day, Emma, Regina, Mary Margaret, David, Hook and Mr. Gold crash through the portal aboard the Jolly Roger into Neverland to face Peter Pan. Never have entities of such differing beliefs united for such a perilous journey. Hook can't believe he actually has Rumplestiltskin as a guest on his ship. As for Emma, she blames Mary Margaret and David for all that's happened. She never should have believed them when they said good always wins. She feels she should have never broken the curse. Mary Margaret says, "The minute I let go of the belief that things will get better is the minute I know they won't." She promises they will find Henry.
Mr. Gold, decked out in his old Rumplestiltskin attire, wants to find Henry on his own. With a spin of his cane, he's gone as the others prepare for a fight. Hook gives Emma a sword that belonged to Baelfire. She lets him know that he was always Neal to her. Speaking of Neal, he awakens in the Enchanted Forest where Mulan, Aurora and Prince Phillip nurse him back to health. He's still hurting, but needs to know if Emma and Henry are okay. Sleeping Beauty offers to help. She tries to make contact by walking the dream world. Sadly, her efforts come up short. Neal believes he may find some answers at his father's castle.
Neal reveals how he lost Emma because his belief in love wasn't strong enough to overcome his fear of rejection. His story of regret seems to strike a chord with Mulan. When they arrive at Rumplestiltskin's castle, they are not alone. A warning arrow nearly pierces Neal's skull. The archer behind the shot is the legendary Robin Hood, who once had his life spared by the dark one. For that, he owes Rumplestiltskin a debt. Neal finds his father's old cane. It contains marks a father once kept to track the growth of his son. Neal swings the walking stick around to have a cabinet magically reveal itself. Robin Hood is curious as to what's inside, as is everyone else. Neal opens the cabinet to find a glass ball that lets him know that Emma is in Neverland.
Henry is already on the isle of Neverland thanks to his kidnappers, Greg and Tamara. He learns of a plan to destroy magic. First they need to let the home office know they have arrived. That won't be necessary. The home office already knows. Greg and Tamara are confused when a group of young men surround them. Henry realizes these are the Lost Boys, and they have no intention of destroying magic. They only want him. An evil shadow drops down from above. It rips Greg's shadow from his body killing him instantly. Tamara orders Henry to run moments before she is impaled with an arrow to the back.
Henry falls to the ground while running through the jungle. A mystery figure pulls him out of harm's way. This young man says he's a former Lost Boy. He claims that Pan is after him because he stole a vile of Pixie Dust. He wanted to use it to fly home, but it doesn't work. Henry says everything will be okay. He has faith that his family is coming for him. Until then, they must seek shelter in the Echo Caves. Unfortunately, they end up at the edge of a cliff. Henry wants to use the Pixie Dust to help them fly away, but his companion doesn't believe it will work. That's fine. Henry believes. That's enough to send them soaring through the night sky to safety.
Rumplestiltskin comes across an injured Tamara. He heals her wound to determine what she knows about Henry. Tamara asks for forgiveness. That's not something Mr. Gold is willing to give as he rips out her heart. He later meets the leader of the Lost Boys who lets him know that if he's here for the boy then he's Pan's enemy. He tosses a crudely made doll onto the ground. When Mr. Gold sees this, he breaks down in tears.
Violent waves rock the Jolly Roger at sea. Hook realizes they are under attack. It's not sharks, whales or the Kraken. It's much worse. The Jolly Roger is under siege by mermaids. Nasty ones. THWAP! THWAP! THWAP! The crashing of mermaid tails below threatens to capsize the ship. Some fireballs from Regina send most of the mermaids swimming away, but one is left behind as Emma captures her in a net. The mermaid blows into a shell which makes a warning sound. She warns that they should let her go free. If they don't, they'll all die.
The rescue crew of the Jolly Roger bickers relentlessly as to what to do with the mermaid as a monster storm violently rocks the ship. Regina turns the mermaid to wood hoping it will stop the storm. It doesn't. A devastating 80-foot wave heads their way. Everyone holds on for dear life as it crests over the ship. As they survive the wave, Mary Margaret and Regina's arguing leads to a physical fight. Hook and David also duke it out. Emma realizes they are the ones causing the storm, not the mermaids. She pleads with them to stop their fighting, but her cries fall on deaf ears. Emma finally gets everyone's attention by diving into the angry sea.
The fighting on deck ceases as everyone rushes to rescue Emma, who has been knocked unconscious. A rope is tied around David as he leaps into the ocean. He finds Emma. They are pulled back onto the ship just as the storm subsides. Emma was right. They caused the storm, but they were also the ones who stopped it. When they finally reach the island, she lets the group to know that they all need to work together to get Henry back. Emma was wrong 11 years ago. She can be a mother. She IS a mother who is going to get her son back no matter what. Her companions can either help or get out of her way. Everyone, even Regina, chooses her first option.
As Emma and the others head into the jungle, two figures ascend down to the island from above. Henry and his companion land safely in a clearing. He's surprised when the young man addresses him by name, as he'd never mentioned who he was. It wasn't necessary. Henry's companion already knew. That's because he is, in fact, Peter Pan. He needs Henry because he holds within him the heart of the truest believer. A dozen Lost Boys step out of the jungle. They form a circle around Henry, who fears what's going to happen to him. Pan gives his loyal followers one command. He says, "Let's play" in the most sinister of ways.