At the start of 'The Perimeter,' Murderbot wakes up on an operating table in a dazed state, unaware of its location or situation. Its memory is wiped, and a new governor module is installed, effectively erasing its autonomy and previous experiences. This occurs after it had sacrificed itself to protect Doctor Mensah in the previous episode.

The Corporation treats Murderbot as mere equipment rather than a sentient being. The workers humiliate and degrade it by wiping its memory, installing a new governor module, and spitting on it. This treatment is worse than how they treat the equipment used to maintain SecUnits, highlighting the Company's disregard for Murderbot's autonomy and personhood.

During 'The Perimeter,' the PreservationAux team is engaged in a contentious meeting with the Company's executives in the Corporate Rim, trying to negotiate for Murderbot's freedom. Despite their efforts and backing from the Alliance, the Company refuses to reveal Murderbot's location or release it, viewing Murderbot as outdated equipment. Gurathin even offers to buy Murderbot, but the executives remain implacable.

'The Perimeter' is described as an emotional and dramatic finale with a quieter, less action-packed tone compared to previous episodes. It explores themes of autonomy, identity, and corporate control, as Murderbot faces the loss of its memories and freedom. The episode is an emotional rollercoaster and a bittersweet, hopeful coda for the season's characters.

'The Perimeter' is set entirely on a space station in the Corporation Rim, specifically at the Threshold Pass Fabrication Center where the PreservationAux team initially purchased their survey contract. This location serves as a return point but offers no happy homecoming, as it becomes the site of Murderbot's capture and memory wipe, tying back to the beginning of the season and the Company's control over SecUnits.