What Happens to Fez in the "Euphoria" Season 2 Finale? 5 Theories

The Feb. 20 episode of "Euphoria" is utterly chaotic, and we loved every second of it! The penultimate episode of the Emmy-winning HBO series sees Lexi (Maude Apatow) putting on her eagerly anticipated school play based on the leading ladies of the show. From the casting of students who are the spitting image of Rue (Zendaya) and Co. and Lexi's interesting take on her life and the lives of those who are close to her, to the showstopping finale led by Ethan (Austin Abrams), the play is beautifully, artistically, and accurately executed by the younger Howard sister. But amid the magic, one thing is missing: Lexi's new flame, Fez (Angus Cloud). Though Fez promised to be there front and center to support Lexi, his reserved seat is empty throughout the episode.

Given the looming danger surrounding Fez and Ashtray (Javon Walton) and what fans gleaned from the season finale promo (Fez is seen covered in blood on the ground screaming), the Fez Hive are biting their nails awaiting the season two finale. It's obvious whatever Custer has planned with the police is what prevents Fez from making it to Lexi's play, but exactly what that plan is and how Fez, Ash, and Faye may be impacted is what fans are totally in the dark about. While we still have to wait a week before the series reveals Fez's fate, fans have some interesting theories about their favorite character and why, exactly, Fez didn't make it to Lexi's play. Ahead, let's break them down one by one.

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Will Fez Be Shot by the Police on "Euphoria"?

Based on the shot of Fez screaming on the floor while covered in blood from the season two finale promo, the most obvious reason he may have been prevented from attending Lexi's play seems to be that the police raided his house with Custer's help and he was caught in the crossfire while trying to save his brother, Ashtray, or Faye. It's more unclear now than ever whether Fez will make it out of season two alive, but considering he's one of the most universally loved characters on "Euphoria," it's hard to believe he'd die. Fans can only hope that if the police do raid Fez's house, it just leads to his arrest or a minor injury.

Still, this ending wouldn't be the jaw-dropping type of finale fans have come to expect from "Euphoria," so is there a chance it's someone other than Fez who ends up bearing the brunt of Custer's plans in the end?

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Will Ashtray Sacrifice Himself to Save Fez on "Euphoria"?
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Will Ashtray Sacrifice Himself to Save Fez on "Euphoria"?

Since Ashtray is the one who notices Custer and Faye's sketchy whispering in episode seven and picks up a knife in preparation for anything that may go awry, some fans believe he will sacrifice himself in order to protect Fez. It's worth noting that this wouldn't be the first time Ashtray throws himself in harm's way to shield Fez against danger. He killed Mouse in the season two premiere and was about ready to take out Cal when he came to their store acting suspiciously.

One Twitter user guessed that the reason Fez is on the ground in angst in the season finale promo is that he just witnessed Ashtray getting killed or severely injured. They added that Ash dying would give Fez a layered storyline as we head into season three of the show.

Another viewer postulated that Custer might've been wearing a wire, and when Ashtray becomes increasingly suspicious of his actions, he stabs him to avoid any trouble. That's when "the police barge in and shoot Ash in front of Fez," they said.

Obviously, if anything like this happened to Ash, Lexi's play would be the last thing on Fez's mind.

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Will Faye Sacrifice Herself to Save Fez and Ashtray on "Euphoria"?
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Will Faye Sacrifice Herself to Save Fez and Ashtray on "Euphoria"?

After apparently pushing a hotel manager off a balcony at the beginning of season two, Faye (Chloe Cherry) has been hiding out at Fez's place at her boyfriend Custer's behest. Since then, she's grown close to her new housemates. She watches movies, shares meals, and helps them with various domestic tasks like any family would. So when Custer tells her he's cooperating with the police in a sting against Fez, she seems genuinely conflicted about what to do. Should she warn Fez he's in danger or help her boyfriend? Some fans can't help but wonder if she'll have a change of heart and reveal Custer's cunning intentions in the nick of time.

In the episode eight preview, Fez can be seen on the floor in a brief shot where his shirt (and the card he bought for Lexi to congratulate her for the show) are both covered in what looks like blood. We also see police sirens and a chained door kicked down as if to indicate someone (likely the police) break into Fez's place. If so, it's totally possible it's Faye who dies in the crossfire between the police, Fez, and Ashtray.

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Does Nate Sic the Cops on Fez on "Euphoria"?
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Does Nate Sic the Cops on Fez on "Euphoria"?

Nate's not one of the most hated people on "Euphoria" for nothing. According to Twitter user @waveofjae, Nate possibly calls the police on Fez . . . again.

While he tried this tactic last season and failed, are we really supposed to believe Nate wouldn't retaliate at all after Fez beat him to a pulp at the New Year's Eve party in the season two premiere? There's a chance that he, along with Custer, could be working with the police to bring down Fez.

The episode eight preview shows Nate standing with the police lights reflecting around him as someone pulls a trigger (likely Cal's gun, which he used to threaten Maddie in episode six).

In the Feb. 20 episode, he storms out of the theater in a huff, clearly rattled by Lexi's portrayal of him during the play. Hurting Fez could be his sick, twisted way of getting back at Lexi, and preventing Fez from attending her play would only be the beginning of his payback in this case.

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​Does Laurie Prevent Fez From Making Lexi's Play on "Euphoria"?
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​Does Laurie Prevent Fez From Making Lexi's Play on "Euphoria"?

Laurie (Martha Kelly) may not have had a ton of screen time this season, but whenever she appears, she sends shivers down our spines with her foreboding demeanor. The second season opened with a chilling introduction to the teacher turned drug lord, so it would be fitting if season two closed with her involved in the storyline.

Rue still owes thousands of dollars to Laurie after failing to sell the drugs she bought from her. And Fez did vouch for Rue's credibility in episode one, which is enough of a reason for Laurie to chase him down. Could it be her, rather than the police, who harms Fez, Ashtray, or Faye in the upcoming episode? Only time will tell.

"Euphoria"'s season two finale hits HBO and HBO Max simultaneously on Sunday, Feb. 27, at 9 p.m. ET.