Warning: Spoilers Off applies to Moments pages.
- During their first scavenging run after settling into their new place, Ryuji gets ambushed by a shadow. Morgana comes to his rescue by nailing it right in the eye with his sling-shot.
- After Ryuji goes into a Heroic BSoD from Kamoshida's Breaking Speech, Ren helps snap him out of it with a combination of You Are Better Than You Think You Are and Dare to Be Badass. Like a phoenix rising from the ashes, Ryuji gets his Heroic Second Wind and knocks out two of Kamoshida's Mooks at once. Then, they go to rescue Ann from Kamoshida.
- When Ren and Ryuji bust into Kamoshida's private chambers, they find Kamoshida pinned to the floor through his hand with the switchblade that Ryuji gave to Ann beforehand. Standing above Kamoshida with a gun to his head is a disheveled but otherwise unharmed Ann. That's right, Ann managed to single-handedly take down an armed man twice her size armed only with a switchblade without needing the boys to save her.
- Ren's whole plan to take down Madarame goes off without a hitch.
- Ren and company rally the people of Seiiki to march down to Madarame's art gallery and demand answers from him. Makoto manages to tranquilize Madarame's bodyguards before they even know what hit them. While confronting Madarame, he simply denies everything from the gambling to the murders with a innocent yet smug grin on his face. However, when Yusuke and Hifumi arrive after having turned Nakanohara to their side, Nakanohara completely spills the beans on Madarame. Suddenly, the smug grin gets wiped off Madarame's face.
- Madarame immediately starts ranting at the crowd, accusing them of only wanting to drink and gamble and only pretending to be interested in art to feel sophisticated. The mother of one of his victims responds to this by tranquilizing him.
- Yusuke delivers a powerful "The Reason You Suck" Speech to Madarame after he is exposed. The crowd is quite impressed with Yusuke's passion and applauds him starting with Sojiro.
- Yusuke: "No, how dare you? How dare you claim to live for the arts when everything you love about it is the money it brings you. How dare you steal from all these talented kids who looked to you as their mentor only to betray them and kill them when they realized what a fraud you are?...You act like this humble artist when your bedroom is filled with riches. Riches you preach to be unnecessary and the demise of creativity...You disgust me. I am ashamed that we both call ourselves artists.“
- On the way back from scavenging what's left of Madarame's gallery, the boys are attacked by shadows. The shadows manage to chase them all the way back to LeBlanc2, where the girls instantly snap into action. The whole team coordinates perfectly to bring them down. Makoto beats one shadow to death with her brass knuckles, Haru splits another with her axe, and Ren and Ann riddle the third one with bullets. Yusuke struggles with the last shadow until Hifumi snipes it from her lookout post.
- During Makoto's Flashback Episode, she enlisted the help of Ren, Ryuji, Ann, and Yusuke after they ran afoul the higher-ups at Jinbochu. She cuts a deal in which they will help her deal with a nearby shadow infestation in exchange for their freedom. They comply and the shadows are eliminated; however, Kobayakawa still orders them to be executed simply because of politics. Realizing that Ren and company were telling the truth and after Ren gives her an Armor-Piercing Question, she forces Kobayakawa to release them by holding him at gunpoint. She then announces that she's leaving Jinbochu after the others are set free.
- The raid on Kaneshiro's bank is one big moment of awesome for the Phantom Thieves and their allies. To put it in perspective, a group of teenagers, a kid, and a Retired Outlaw took on the Yakuza and won:
- The first part of the plan goes smoothly when they incapacitate Kaneshiro's goons and initiate the bank's lock-down, trapping Kaneshiro and any remaining guards with the Phantom Thieves. However, Kaneshiro has already retreated to his vault and manages to override the lock-down, allowing his reinforcements to try and retake the building. This forces the Phantom Thieves and Iwai to take a defensive position within the bank, while Ren goes to search for Makoto and Kaoru.
- Its later revealed that while the Phantom Thieves were raiding Kaneshiro's bank, Eiko, having learned about Tsukasa's treachery, created a distraction within New Shinjuku to draw the bulk of Kaneshiro's forces away from the bank. Beforehand, she managed to convince most of the women that were coerced into becoming Kaneshiro's prostitutes to rise up against him. When Kaneshiro's forces arrive, the women then manage to seduce, disarm, then ambush them. This results in nearly all of Kaneshiro's men, including Tsukasa, being taken prisoner. This would later become known in-universe as "The Maid Revolt."
- Meanwhile, another group of Kaneshiro's men go to where they normally pick up pay from their "borrowers," only to be held up by Sojiro, Shinya, and Mifune. According to Sojiro, the Mooks were more afraid of Shinya than they were of Sojiro.
- Kaoru manages to rejoin his father, Iwai, with the rest of the Phantom Thieves in the main lobby. There is a brief lull in the fighting so Kaneshiro takes the opportunity to taunt Iwai via the intercom and reveals that Iwai is not Kaoru's father, Kaneshiro is. Kaneshiro then offers Kaoru one chance to join him, Kaoru responds by shooting the speakers and reaffirms that Iwai is his real father, not Kaneshiro.
- When Ren finally reaches the vault, he finds Kaneshiro with his one of his thugs holding Makoto as a Human Shield. After a tense exchange, a few more goons come out to kill Ren. Makoto manages to break free of her captor, creating an opening Ren to take him out. Both of them immediately move to overpower the remaining thugs, causing Kaneshiro to panic. However, in an act of desperation, Kaneshiro shoots Makoto in the back. This causes Ren to completely snap and all of the pent-up rage that Ren had been holding back the entire time comes roaring to the surface. Not content with just shooting Kaneshiro, Ren tackles him to the ground and proceeds to beat him to a bloody pulp with his bare hands.
- After killing Kaneshiro, Ren checks in with the remaining Thieves. While they are holding their own against Kaneshiro's reinforcements, they are fighting a losing battle. Hifumi, once again, makes the game-changing move by sniping their machine gunner. This creates an opening for the Phantom Thieves to counter-attack and wipe out the remainder of Kaneshiro's goons.
- Despite having limited resources and having never tested her experimental meds, Takemi manages to successfully revive Ren from the brink of death using a blood substitute that she developed herself while performing emergency surgery.
