HBO’s A Knight of the Seven Kingdoms has always promised intrigue, but few viewers were prepared for the bombshell dropped in Episode 3, “The Squire,” which premiered on February 1, 2026. The episode’s final moments delivered a game-changing revelation about Egg, the squire who has charmed audiences with his wit and loyalty. As it turns out, Egg is no ordinary stable boy—he’s Prince Aegon Targaryen, the youngest son of Prince Maekar and a member of the storied Targaryen dynasty. This twist, carefully foreshadowed throughout the season, not only redefines Egg’s relationship with Ser Duncan the Tall but also casts new light on the fate of Westeros itself.
According to Decider, the episode’s climax unfolds with Ser Duncan (played by Peter Claffey) coming to the defense of Tanselle, a Dornish puppeteer, after she becomes the target of Prince Aerion Targaryen’s wrath. Aerion, incensed by a puppet show where a knight slays a dragon, sees the performance as a political threat to the Targaryen legacy. “The dragon ought never lose,” Aerion proclaims, before violently attacking Tanselle and breaking her finger. Egg, desperate to save both Tanselle and his friend Dunk, reveals his true identity as a prince and commands Aerion’s guards to stand down—an act that stuns everyone present and leaves Dunk reeling.
Egg’s revelation is more than a convenient plot device; it’s a carefully woven narrative thread that has been teased since the series began. As reported by WinterIsComing.net, the show has sprinkled clues about Egg’s lineage, culminating in a fateful encounter with a fortune teller at the Ashford market earlier in the episode. While the fortune teller offers Dunk a lighthearted prediction, her words to Egg are chilling: “You shall be king, and die in hot fire and worms will feed upon your ashes. And all who know you shall rejoice in your dying.” Dunk laughs it off, but fans of George R.R. Martin’s lore recognize the prophecy as a dark omen of Egg’s future as King Aegon V Targaryen—also known as “Aegon the Unlikely.”
Egg’s path to the throne is as improbable as it is tragic. Born the youngest son of Prince Maekar and Dyanna Dayne, Egg was never expected to inherit the Iron Throne. His three older brothers—Daeron, Aerion, and Aemon—stood ahead in the line of succession. Aemon, destined for the Citadel, would later become the wise Maester Aemon who mentors Jon Snow at the Wall in Game of Thrones. But a series of calamities befalls the Targaryen family, leaving Egg as the last viable heir. Aemon, for his part, refuses the crown, choosing his vows as a Maester over the throne. Thus, Egg ascends as King Aegon V, a ruler whose reign is marked by both idealism and tragedy.
Egg’s time as king is defined by his desire to help the common people of Westeros. As detailed by WinterIsComing.net, his progressive policies win him the love of the smallfolk but breed resentment among the nobility. The lords, already wary of the declining power of House Targaryen—dragons are extinct, and the Blackfyre Rebellion remains a fresh wound—chafe at Egg’s reforms and his children’s broken betrothals. It’s a tension that simmers throughout his reign and ultimately contributes to the prophecy’s grim fulfillment.
One of Egg’s most trusted allies is Ser Duncan the Tall, the hedge knight who becomes Lord Commander of the Kingsguard under Aegon’s rule. Their bond, forged in the crucible of shared hardship, becomes legendary. Eagle-eyed fans of Game of Thrones may recall Joffrey’s jibe at Jaime Lannister about the many pages Ser Duncan occupies in the White Book of the Kingsguard—a testament to his storied career. Dunk remains Egg’s champion, standing by his side through political upheavals, duels, and, ultimately, the king’s greatest and most disastrous ambition.
That ambition comes to a head at Summerhall, the Targaryen summer palace, in an event that would go down in history as the Tragedy at Summerhall. As described in The World of Ice and Fire and recounted by WinterIsComing.net, Egg becomes obsessed with restoring dragons to Westeros. He gathers his family, pyromancers, and seven dragon eggs in a desperate bid to hatch a new generation of dragons. The attempt backfires catastrophically: wildfire engulfs the castle, killing Egg, most of his family, and many others. Ser Duncan the Tall manages to save a handful of survivors, including Jaehaerys Targaryen and the newborn Rhaegar Targaryen—whose legacy would shape the fate of Westeros for generations.
Egg’s death fulfills the fortune teller’s prophecy: “all who know you shall rejoice in your dying.” The nobility, embittered by Egg’s attempts to curtail their power, greet his demise with relief. Yet, as WinterIsComing.net notes, the smallfolk mourn the loss of a king who genuinely cared for them—a rare thing in Westerosi history. The tragedy at Summerhall marks the beginning of the end for House Targaryen, setting the stage for the Mad King Aerys, Daenerys, and Jon Snow, all of whom are Egg’s descendants.
Back in the present-day events of Episode 3, the fallout from Egg’s revelation is immediate. Dunk, who has always believed in the honor of highborn knights, is shaken by the duplicity and brutality he witnesses. As Peter Claffey told Decider, “I think the whole journey from the start of going into Ashford is this huge challenge to what he thought the highborn people were about and their honor that they kept and things like that. I think it’s a huge confusion to see, obviously, like a Prince of the realm to act so unchivalrous and without honor.”
The episode also probes the political anxieties simmering beneath the surface of Westeros. Raymun Fossoway, another knight, voices the resentment many feel toward the Targaryens, calling them “incestuous aliens” and suggesting they should be wiped out. Shaun Thomas, who plays Raymun, explained to Decider, “I feel like he recognizes that with the Targaryens, they behave in a certain way that he doesn’t like.” Finn Bennet, who portrays Aerion, adds that Aerion’s anger is fueled by a sense of lost power: “He’s embarrassed the Targaryens are not feared and they don’t have the same grip on power they used to have.”
Tanselle’s puppet show, intended as innocent entertainment, becomes a flashpoint for these anxieties. Tanzyn Crawford, who plays Tanselle, told Decider, “The play itself is inherently political. I personally don’t think she’s put on this play as a political statement, rather just a beloved story that people know and people like... But she’s not naive. She’s not unintelligent. I think she realizes that putting on this puppet show, exactly what happens to a dragon and what that means... But I don’t think that is the main motive for the show. I think it’s a good mixture.”
As Episode 3 closes, Dunk and Egg’s destinies are forever changed. With Egg’s secret exposed and the Targaryens’ future uncertain, HBO’s A Knight of the Seven Kingdoms continues to weave a story of loyalty, ambition, and the high cost of power—a tale that resonates far beyond the walls of Ashford.