At Ely House, the dying Gaunt awaits a visit from the king, hoping that the young, imprudent Richard will listen to his advice. The Duke of York does not think this will happen; the king listens only to those who flatter and praise him, so Gaunt should not waste his words on him. Gaunt prophesizes that Richard will not be able to keep up his headlong, misguided activity for long.

Gaunt then gives a speech in which he expresses his deep love for England and lavishly praises it as a kind of paradise, mentioning its long line of kings, renowned for their Christian service (he means the crusades they conducted in the Holy Land), and calling it a precious island. However, he condemns Richard’s shameful policy of exploiting the nation’s wealth.

The king, queen, and other nobles enter. Gaunt speaks sharply to Richard, rebuking him, calling him the landlord of England rather than its king. Richard interrupts him, calls him a fool and disrespects him further, saying that were Gaunt not the brother of Edward the Black Prince (Richard’s own father), he would have him executed. Gaunt counters by accusing Richard of murdering the Duke of Gloucester.

Gaunt exits, and then Northumberland enters with the news that Gaunt has died.