The Terminal List: Dark Wolf Episode 5 Shocks Fans—Did Perash and The Shepard Die?

Episode 5 of The Terminal List: Dark Wolf has fans on edge as Perash and The Shepard face their deadliest threats yet. Here’s the truth about their fate in the latest explosive chapter.
Episode 5 of The Terminal List: Dark Wolf answers the two questions everyone kept pinging me about: is Perash still breathing, and what happened to the mysterious guy calling himself The Shepard? Short version: this hour moves fast, juggles a brewing nuke plot and a switcheroo op, and leaves bodies on the ground.
Quick casting refresher while we are here: Dark Wolf is a prequel to the Chris Pratt-led The Terminal List, with Taylor Kitsch and Tom Hopper headlining this time around.
- Perash: dead. A bomb takes her out in Zurich traffic. Edwards walks away, barely.
- The Shepard: dead (as far as the show wants us to think). Varon kills him in Munich, though the way it happens leaves room for him being a front man.
Zurich: Edwards and Perash try a do-over, then everything explodes
Despite Perash selling him out last episode, Edwards links back up with her in Episode 5 because the mission trumps hurt feelings. They blast their way out of a hotel ambush and start pushing toward a town called Stein with a suitcase full of bearings that matter to the nuclear thread the season keeps teasing.
They do not get far. Still in Zurich, stuck in a traffic snarl, two riders pull up on a bike and stick a device to their car. Both Edwards and Perash try to bail, but the blast hits hard. Edwards survives the hit, recovers fast, and guns down the bike team. Perash is not that lucky. Once he clocks that she is gone, Edwards does what he does: grabs her bracelet, secures the case with the bearings, and ghosts the scene.
Munich: Varon versus The Shepard
Meanwhile, Varon does some very inside-baseball spy work to flush out The Shepard. She hacks the app he used to contact Haverford, follows the trail to Munich, and slips into his apartment while he is out, pulling down whatever data she can. Then she spots a camera, realizes she is on candid criminal, and heads for the door.
Too late. The Shepard comes in hot, and the two go at it like one of them is not leaving. Varon wins that argument. She kills him and scoops up what she came for. On paper, that is The Shepard off the board. But given how quickly he drops, there is a non-zero chance he was just the face of something bigger.
Episode 6 lands next week on Prime Video, and based on where that suitcase is headed, the nuclear thread is about to stop being a tease.