‘Ferry 2’ Ending Explained & Full Story: Did Jezebel Start Her Own Business?

Netflix’s Dutch crime thriller series, Undercover, gained significant attention during its three-season-long run, and Ferry Bouwman—the ruthless kingpin in the role of prime antagonist—became a standout character, who became popular enough to warrant a prequel series and a movie centered on his exploits. While the prequels highlighted Ferry’s rise to power, how he began his journey as a right-hand man of a drug lord named Brinks, found the love of his life in Danielle, betrayed his former boss for her sake, and eventually built a criminal empire based on the drug trade, Undercover had shown his downfall as the series concluded with Ferry ending up getting incarcerated after Dennis betrayed him, one of his lackeys, and by the end Ferry had lost everything. His family was taken away from him as he lost his sister, Claudia; her daughter, Sonja; and Sonya’s daughter, Jezebel, became an orphan as her father, Jurgen, was shot to death by the police during a drug bust. 

Ferry 2, set up as the sequel to both the movie and the series centered on Ferry and also to Undercover, brings the titular aging criminal mastermind back into the game one last time as family ties lead him to tread the dangerous path, he thought he’d leave behind. The story is pretty simplistic, acts mostly as a one-and-done narrative, and sets the franchise in a new direction at the end.

Spoilers Ahead

Why Did Jezebel Ask Ferry for Help?

After getting out of prison almost a decade after his capture by undercover agents Bob Lemmens and Kim de Rooij, Ferry appears to be a changed man, as he is trying to make a living under a new identity, Andre, and as the movie begins, he is seen entertaining kids by dressing up as Santa, wearing costume and beard and whatnot. As Ferry reflects upon his life and regrets how his obsession to get to the top cost him everything at the end, he sees his guilt manifest as his grandniece, Jezebel, approaches him, with her boyfriend, Jeremy, by her side, to seek Ferry’s help. Turns out, growing up and surviving on her own, Jezebel had decided to take up Ferry’s trade and started making ecstasy pills, and in the process got herself entangled with a troubling crowd. A drug lord named Lex van Dun, a particularly notorious and psychotic individual, has started harassing Jezebel after she failed to deliver the promised amount of pills in due time, and she wants Ferry to lend her almost fifty thousand bucks so she can escape from the clutches of the drug lord. 

Ferry is disappointed in Jezebel, given the path she chose instead of taking a lesson from her family’s past, but he is probably way more disappointed in himself, as he was supposed to protect and take care of his sister Claudia’s grandchild. Ferry had failed Jezebel and was in no position to admonish her, although initially he wanted to stay out to keep convincing himself that he wasn’t responsible for her life turning out a mess. However, family ties can’t be shrugged off that easily, and probably Ferry’s conscience was acting up as well, as finally he decided to leave his new life behind to help Jezebel. 

Ferry decides to meet Lex up front, and finding Dennis to be assisting him, becomes livid. However, Jezebel mentions that she shares a good relationship with Dennis, as in Ferry’s absence, he was the only person who helped and took care of her. It is possible that Dennis had brought Jezebel into the drug trade as well, and Ferry isn’t willing to trust him ever again. Thanks to Ferry’s reputation, Lex agrees to make a deal with him in exchange for sparing Jezebel’s life, and to gain higher profit, Ferry decides to raise the stakes as well. 

Why Did Ferry and Jezebel’s Operation Go Wrong?

Ferry took charge in setting up the ecstasy-making operation, and Jezebel brought in two of her friends, Steve and Dino, into it as well for assistance. Ferry decided to lead a risky heist to steal PMK, the primary compound to make ecstasy, and during the heist, Jeremy gets shot. As Jezebel becomes quite concerned for him, Ferry probably sees a reflection of the bond he shared with Danielle in their love, and as he shares his worldly advice with her grandniece, the duo are able to somewhat reconcile. 

In the meantime, Ferry continued to have occasional clashes with Dennis, and during a heated argument, Dennis provoked him by blaming Ferry for Jurgen’s death. Now Ferry was not directly responsible for the incident, as Jurgen was killed by the cops, but it was the nature of Ferry’s dangerous line of work that caused Jezebel’s father’s demise. Also, it is implied that Ferry had started suspecting Jurgen and had him killed. At present, in the heat of the moment, Ferry stated that he was responsible for Jurgen’s death, and a crafty Dennis recorded the conversation, leaving the context out of it to use Ferry’s words to his own benefit. Ferry and Jezebel were able to produce promised demand within the deadline, and during the Christmas Eve celebration, Ferry and his newfound family, consisting of Jezebel, Jeremy, Steve, and Dino, really came together. On the same night, Dennis decided to leave early, citing personal reasons, and getting a bad hunch about him, Ferry decided to tail him. Ferry found out that Dennis and Lex had made a deal with a hitwoman, Xia, to kill Ferry as they plan to run their operation to the ground. Lex didn’t care a dime for the deal and wanted to profit from both ends; he could have exploited Jezebel if not for Ferry’s interference, who posed a serious threat to his dominance as a drug lord. The double-crossing snake, Dennis, was aware of everything, and even when Lex mentioned killing Jezebel and her friends if they intervened, he remained silent. Dennis probably had a soft spot for Jezebel and didn’t want her to suffer, but he never made any attempt to save her in any way. 

As Lex and Dennis leave, Ferry holds Xia at gunpoint and offers her twice the amount Lex had promised. Later on, he reveals everything to Jezebel, and his conversation with Xie proves that Ferry’s suspicion was not misplaced. In the absence of Ferry and Jezebel, Lex and his men destroy their production lab by bombing the derelict ship where Ferry had set his lab and decide to pay a visit to Ferry and co. Lex killed Dino in cold blood to make a point and forced Ferry and Jezebel to arrange the means to continue the operation by stealing PMK from the authorities. Dennis was sent to watch over the duo, and Jezebel, unable to control her anger towards Dennis for his betrayal, ended up stabbing him. Dennis decided to play the recording to make Jezebel understand that her trust in Ferry is misplaced, that he was responsible for her father’s death. Ferry ends up shooting Dennis to death, but this act further highlights his guilt to Jezebel, who turns into an emotional wreck after realizing the only family she had turned out to be a backstabber. Jezebel decides to flee, with Jeremy by her side, and Lex and his men chase them. Xia was unable to help Ferry as she had already been outed as a mole, and Lex had her gunned down. 

Was Ferry Able to Save Jezebel?

A distraught Ferry could have walked away, but his connection with Jezebel was the only thing had left to cherish in the late phases of his life, and even though it reached a breaking point, he was prepared to lay down his life to save her. Living a life of crime and deceit, Ferry had the chance to do one good thing to somewhat redeem himself in his own eyes, and he decided to hunt down Lex and his men to save his grandniece. Eventually, Ferry was able to eliminate most of Lex’s men and had a final standoff with Lex. To let Jezebel and Jeremy escape to safety, Ferry confronted Lex head-on, and even though he manages to kill the psychotic drug lord at the end by shooting him to death, Ferry himself sustains a fatal injury in the process. In his final moments, Ferry sits on a bench and imagines seeing the love of his life, Danielle, returning to him at the end. It’s a wishful fantasy Ferry wanted to see manifest, as in reality, he dies without a soul by his side. For what it’s worth, while fleeing, Jezebel appears agonized at the death of the only family she had left. 

What Happens To Jezebel At The End?

In a mid-credits scene, Jezebel is shown to have sold the stash of ecstasy to a prospective buyer and made a lucrative profit as a result. The ending tries to hint that the franchise might continue with Jezebel as the ringleader; in Ferry’s absence, she might use his reputation to build a criminal empire of her own. Or alternatively, she might decide to adhere to her later granduncle’s advice and settle with Jeremy to have a peaceful life, away from the dangerous trade that ended her family in the first place.