Quick Answer
Full story spoilers
This page discusses the final chapter and post-game lore. Stop here if you have not finished the campaign.
Is there more than one ending?
Current completed-playthrough reports and post-release reviews consistently describe a single ending. The game does not present a final binary choice that branches into separate cinematics, so replaying the last chapter with different optional cases completed does not produce a second outcome.
The plural search term is still useful because players often arrive expecting the three-ending structure of the first game. In The Sinking City 2, the meaningful variation comes from how much background material you uncover before the finale, not from selecting a different ending button.
What happens to Calvin and Faye?
Calvin's journey is driven by his attempt to recover Faye after their Dreamlands ritual leaves her trapped and her body becomes part of a larger occult struggle. The final act completes that rescue story, but the result is deliberately framed as a personal victory purchased at a catastrophic cost to Arkham.
The closing imagery is intentionally unsettling rather than triumphant. Calvin reaches the person he has pursued through the entire game, yet the forces behind the flood are not reduced to a conventional villain that can simply be defeated and forgotten.
What Ex Oblivione changes
Ex Oblivione is best understood as an additional lore layer. Its documents add context about the cosmic powers surrounding Calvin, Faye, and the flooded city, and they make the franchise connection easier to recognize.
Collecting that material changes the player's interpretation of the ending, not the ending file itself. If you only want a different cinematic, there is no verified alternate route; if you want the fullest explanation, read the Ex Oblivione documents before judging the final scene.
Sources
Facts were rewritten in original English and checked against the following pages. Store values can change after this snapshot.