Renly and Catelyn stroll through his very impressive camp, trailed by Brienne. Along the way, we see that Renly takes an interest in his subjects by the way he asks about one guy's foot troubles. Catelyn thinks this is a game to him and tells him that she pities his army: "They are the knights of summer and winter is coming." That's the slogan of the Starks, which is kind of interesting in that Catelyn's here on this mission because she was born a Tully. Renly takes some offense at this (logically, since it was a straight-up insult) and tells Brienne to escort Catelyn to her tent. He does not want Catelyn to come attend him later, because he has to pray. Alone. I feel like "pray" should have sarcasm quotes around it.
On their way to Catelyn's tent, she and Brienne chat. The only reason for this discussion is so that Brienne can say she's "no lady" and so we can see how giant she is next to Catelyn. She's pretty big!
Now to Pyke. Home of the Greyjoys. Theon is wandering around the living room, looking at the awesome stone kraken over the fireplace. He notices Yara watching him and gets mad that she's there. Which is weird, as she points out, since she lives there. He calls her a lying bitch. Not for saying she lived there; for not saying she was his sister before he started rubbing his hands all over her on the ride to the castle. She says it's his fault for now recognizing her, but he claims she looked like a fat little boy the last time he saw her. She says that's what he looked like too, but she recognized him. Well, sure. He was swaggering around the dock announcing that he was Theon Greyjoy, heir to Pyke. And he'd probably sent a message saying he was coming. Anyway, she didn't tell him who she was because she wanted to see what kind of man he was. And she did!
Their father Balon enters and delivers a speech heavy with metaphor: "The wolf pup has gone south with the entirety of the northern army at his back. While he's tangling with the lion in the Westerlands, the North is ripe for the taking. The Ironborn will reave and pillage as it was in the old days all along the northern coast. We'll spread out dominion across the green lands securing the neck and everything above. Every stronghold will fall to us one by one."