King Henry, Prince Hal, Lancaster, Westmoreland, Blunt, and Falstaff meet at the king’s camp near Shrewsbury. Worcester and Vernon enter. The king repeats his offer of peace, but Worcester turns him down. Worcester reminds the king how he, Northumberland, and Hotspur helped him reclaim the title of Duke of Lancaster after his exile and how he swore to them that it was the extent of his political ambitions. The king acknowledges that he has heard these accusations spreading throughout the populace.

Hal tells Worcester that he challenges Hotspur to single combat with the fate of the crown on the line in order to stop the battle. Henry repeats his offer of peace and tells Worcester and Vernon to discuss it with the other rebels. Worcester and Vernon leave. Hal does not expect them to accept the offer. Everyone except Hal and Falstaff exits. Falstaff appeals to Hal to protect him if he falls in battle. Hal tells him to say his prayers and bids him farewell. Alone, Falstaff muses on the worthlessness of honor.

Back in the rebel camp, Worcester and Vernon discuss the king’s offer. Worcester does not want Hotspur to know of it. He wants to fight because he believes the king will renege on his leniency; at the very least, they will be under suspicion for the rest of their lives.