Complete story — includes the ending
King Cole addresses the assemblage in a grand ballroom. He reminds them of the harrowing event two centuries ago when the Adversary and his minions sought to conquer the homelands, driving the Fable community into exile. In doing so however, he managed to unite all Fables with one simple objective - survival. Concluding his speech, King Cole proposes a toast to the Homelands.
As the night wears on, Jack and Bluebeard request an audience with Bigby. They're both irate for missing the celebration, and Bigby reminds them that not only are the going to miss this year's Remembrance Day festival, but the next one-hundred as well. As Jack and Bluebeard plead their case, Bigby decides to let them enjoy the last remaining hours of the evening, providing they can keep from killing each other.
Later, Bigby changes into a tuxedo and meets with Snow White on the ballroom floor. He is a terrible dancer, and Snow White pressures him about information relating to her sister. Through the course of conversation, Snow White inadvertently says something that clicks inside of Bigby's mind. He now knows who the murderer is. He tells Snow to alert everyone who is interested in learning the truth about the case to meet atop King Cole's terrace after the lottery drawing.
The lottery is held, and Jack Horner wins Prince Charming's title after only buying one ticket. He is the first to go up to Cole's terrace to meet with Bigby (who happens to be taking a dip in King Cole's pool). One by one, the other guests begin filing into the terrace. Bigby gets out of the pool and reveals that he knows who the killer is. He walks to one of the guests and tugs at her hair revealing a wig. The woman wearing the wig is a disguised, and very much alive Rose Red.
Sources and content license
Source and revision history ↗ · Adapted from DC Database contributors, Fables Vol 1 4. Illustrations and reference markup removed; synopsis paragraphs combined. · Content license