In a battle so epic it needed two parts, Momonga—sorry, Ains Ooal Gown—turns the tables for good. Having told Shalltear that everything has gone according to plan, he transforms into “Perfect Warrior”, the armor of Lord Touch Me, a former playmate. He then proceeds to summon superweapon after superweapon, so fast and unpredictably is the onslaught that Shalltear must abandon defense altogether and focus on offense, losing an arm in the process.
But Shalltear wasted all her skills and most of her MP in the first half of the battle, when she thought the two participants were a lot more evenly matched. Turns out, Ains was simply lying to her, as well as failing to correct her incorrect assumptions about his weaknesses. The only weaknesses Ains had against Shalltear were dealt with in that first half, which is why he thanks her so profusely before Part Two begins.
Once a timer goes off, Ains dispenses altogether with the fiction that Shalltear had the slightest chance against him and casts “Fallen Down.” As she utterly disintegrates in the light of her overlord’s power, a smile marks Shalltear’s face. He was every bit as great as she thought, and then some. Of course she couldn’t win against him.
The same reason Ains had all those cool weapons is the same reason he’s able to ultimately resurrect Shalltear, albeit, unexpectedly, without her ample bosom (something she laments once she notices). That reason is cold hard cash. I’ve played my fair share of RPGs long after the main quest is complete and amassed fortunes so large I could buy everything there was to buy, which is what Ains does. And while it costs a cool 500 million to resurrect Shalltear, it isn’t as if there was anything else for him to buy.
It’s all too common for villains to simply disappear into oblivion, cursing the name of the hero who defeated them. OverLord is different. Not only is Ains not a hero but an antihero, but Shalltear isn’t a villain either; she was under mind control, which we learn was only partial, but it still did the trick in terms of having her rebel against Ains. And she comes right back, mostly the same as she was, and certainly just as in love with the adorable Ainsy-Winesy.
With Shalltear returned to the fold and Nazarick back at full strength, Ains gets back to work, learning all there is to be learned about this new world he finds himself in. He’s awarded Orichalcum Plate, and plots to fortify Nazarick and discover the entities who tried to steal Shalltear’s Mind—we learn they’re from the Slane Theocracy, and they’re not done yet. We also learn that Brain Unglaus is still alive, as Stronoff finds him in an alley.
There’s no official indication at the end of this extended epilogue that there will be a second season OverLord, but I wouldn’t be surprised if there was, whether it’s in Winter or next Spring or Summer. There’s certainly plenty of material left to explore, lots of awesome one-sided battles to be fought (and perhaps some not so one-sided), and, of course, the central mystery of What Exactly Happened to the human MMORPG player inside Lord Ains. Though, at the same time, I’m kind of glad weren’t spoon-fed all the answers.