- Emilia Pérez follows four remarkable women in Mexico, each pursuing their own happiness. Cartel leader Emilia enlists Rita, an unappreciated lawyer, to help fake her death so that she can finally live authentically as her true self.
- Mexico, today. Overqualified and exploited, lawyer Rita is wasting her talents working for a large firm far better at whitewashing criminal garbage than serving justice. But an unexpected way out appears, the sort of offers you can't refuse : to help feared cartel boss Juan "Little Hands" Del Monte - aka Manitas - retire from his business and disappear forever. Manitas has a plan he's been fine-tuning in secret for years : to become, at last, the woman he's always dreamed of becoming.
- Rita Mora Castro, an overlooked but brilliant lawyer in Mexico, takes on the defense of a high-profile murder case involving the wife of a famous media mogul. Suppressing her own moral doubts, Rita argues the death as a suicide in a case known as El Alegato. Her victory brings notoriety but little satisfaction. Shortly after, Rita receives an anonymous call offering an intriguing, lucrative opportunity (Todo y Nada). Reflecting on her dissatisfaction, she agrees to meet the mysterious client.
The client turns out to be cartel kingpin Juan "Manitas" Del Monte, who reveals a deeply personal request: assistance in transitioning to live authentically as a woman (El Encuentro). Manitas explains her lifelong struggle with gender dysphoria and desire for a new life. Despite her trepidation, Rita agrees to help and begins seeking specialized surgeons. This journey takes them to Bangkok (La Vaginoplastia) and Tel Aviv (Lady), where they eventually find a doctor willing to perform the procedure. Moved by Manitas' childhood recollections of gender Diaspora (Deseo), the surgeon agrees.
After the surgery, Manitas assumes her new identity as Emilia Pérez. To ensure her family's safety, Emilia's wife, Jessi, and their children are relocated to Switzerland. Rita receives a substantial payment as Emilia stages her own death, leaving her cartel past behind.
Four years later, in London, Rita unexpectedly meets Emilia again (Por Casualidad). Emilia expresses her longing to reconnect with her children. Moved, Rita arranges for Jessi and the children to return to Mexico City under the guise of Emilia being a distant cousin of Manitas, helping to care for the family. While Jessi doesn't recognize Emilia, she reluctantly agrees to return, motivated by her rekindled romance with an old lover, Gustavo Brun (Bienvenida).
As the family settles into a new life in Mexico, Emilia has a trans formative encounter with the mother of a missing child (Mis Siete Hermanos y Yo), stirring her guilt over her violent past. Later, her son confesses that he still recognizes her scent, sparking a moment of deep remorse (Papá). Determined to make amends, Emilia uses her cartel connections to establish a nonprofit identifying cartel victims (Para). Despite Rita's warnings about accepting support from corrupt donors (El Mal), the nonprofit grows.
One day, Epifanía, a woman whose abusive husband's remains were identified by the nonprofit, seeks closure with Emilia. Their connection deepens, and the two begin a romantic relationship (El Amor). Meanwhile, Jessi and Gustavo solidify plans to marry and move the family, but tensions explode when Emilia refers to the children as "mine" during a confrontation. Jessi flees with the children, reigniting a dangerous feud (Mi Camino).
In retaliation, Emilia cuts off Jessi's funds and intimidates Gustavo, forcing him to flee Mexico. In desperation, Jessi and Gustavo kidnap Emilia, demanding a ransom from Rita. At the drop-off point, negotiations break down, leading to a chaotic shootout between Gustavo, Jessi, and Rita's security team. In a final plea, Emilia reveals her true identity to Jessi by recounting private details of their past (Perdóname).
Shaken but furious, Jessi and Gustavo flee with Emilia in the trunk. As they drive, Jessi begins piecing the truth together. Overcome with guilt, she forces Gustavo to stop. A violent struggle ensues for control of a gun, causing the car to crash. All three-Jessi, Gustavo, and Emilia-die in the accident.
Rita delivers the devastating news to Jessi's children, offering to become their guardian. In the aftermath, Epifanía, joined by supporters of the nonprofit, marches in the streets, honoring Emilia's legacy as a symbol of truth and liberation (Las Damas Que Pasan).
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