On the morning of her execution, two months after the fall of the city, Lady Margaery dressed with care. After taking a long bath, she put on a black velvet gown, fringed with seed pearls. Lady Elinore tied up her hair with a black ribbon, so that the executioner's sword should not be impeded. She prayed for a time with a Septa, before saying goodbye to her daughter, and to Elinore. She had asked to die by the sword, and for her body to be interred with that of her husband. She had been allowed to attend his burial, several weeks ago, a kind gesture which she appreciated. The Queen had visited her in person to inform her of her sentence. She thought that Daenerys had seemed uncomfortable, and she respected the fact that she had faced her, rather than have the news delivered by a minister. She had been told that the estates of the Tyrells and most of their Bannerman, were now forfeit to the Crown, but that her daughter would be held as a ward until her sixteenth name day. Then, she would be allowed to inherit Storms End. Lord Selwyn would be her guardian. Lady Elinore would act as her governess. If their positions had been reversed, she hoped she would have acted similarly; but she knew full well her grandmother and brother would have been more cruel. They might not have put Daenerys to death brutally, but they would certainly have led her in chains through the city. Nor would they have allowed a child or hers to live.

She recalled their conversation. They had talked for several hours, about the war and the future. In good faith, Margaery had offered Daenerys advice about ruling the country, which she seemed grateful for. It seemed that Kings Landing was being fed, the wreckage cleared, and temporary accommodation erected, although it would be years before the city was restored. Daenerys would spare no expense, rebuilding it on a far more impressive scale than before. She spoke of her schemes to build aqueducts, so that the people could have fresh water. It seemed too, that Lord Tyrion had something of a genius for engineering. He was charged with overhauling the sewerage system built by King Jaehaerys.

"To be honest, your Grace" she had said "Kings Landing was a slum with a handful of palaces. If you can make it into a city like Oldtown, the people will bless you."

"They won't, Margaery. I can't even set foot in this city without a huge military escort. The people would tear me apart, otherwise. And can I even blame them?"

"Perhaps for now. But, if you make their lives better, they'll see you differently in time."

"They won't. I've seen the future. If it's any consolation to you, future generations of these people will spit at the mention of my name, and burn me in effigy. "

"It's no consolation."

"You had the gift of making the people love you. I don't".

"I'm sure the slaves you freed, loved you."

"Anyone would look good by comparison with their masters. They were animals." There was an awkward silence, before Margaery offered "I played no part in my family's treachery towards you. " Daenerys looked offended:

"I would hope you could be honest with me at least. I'm afraid I don't believe you. " The conversation had terminated at that point. She had wondered if Daenerys would visit her again, but apparently not.

There was a knock on the door of her chamber. It was time. Lord Tyrion was present with half a dozen guards. He led her through the Maidenvault, and into the main courtyard, and then to the Great Hall, where she would be beheaded. It was a beautiful day, sunny, with a fresh breeze coming in from the sea. She wanted to savour it for the last time. She climbed the Serpentine Steps and entered the Hall. Daenerys was present, on the Iron Throne, with dozens of courtiers and officials, all dressed sombrely in black, navy, or grey. A scaffold had been set up before the throne, draped in crimson velvet. Ever observant, she noticed that Lord Varys was missing. Surely, the Master of Whisperers should be present for such an occasion?

As she was led to the scaffold, the headsman knelt before her, asking "Please forgive me Lady Margaery. I do as I must, and bear you no ill will."

"I forgive you" she replied, handing him a small purse of coins as was customary. Then, she mounted the scaffold, intending to give a final speech.

Daenerys rose from the Iron Throne. "Lady Margaery, you have been sentenced to death for treason and regicide. However, I have established that you were not, in fact, guilty of treachery at the parley. The charge of regicide is therefore dismissed. But, the charge of treason remains. It is not customary to put a woman of rank to death on such a charge. Queen Rhaenyra spared both Queen Alicent and Queen Helaena when they attempted to usurp her throne. Your life is not forfeit, therefore."

Margaery was no coward, and had prepared herself to die. But still, she felt weak with relief.

"There are, however, conditions, which you must abide, upon pain of death. You will dwell at Storms End with your daughter. You will never return to the Reach or this city. Should you wish to travel more than twenty miles from Storms End, you will first seek my permission. I will allow you to remarry if you wish, but you will first seek my consent to your choice of husband. Lord Selwyn will remain your daughter's legal guardian. He is of course, obliged to maintain her in a state appropriate to her station; I have instructed him to ensure that you are provided with sufficient funds to maintain yourself in comfort. Are these terms accepted?"

"They are, your Grace. They are generous", she said, curtseying to the Queen.

"Good. I bear you no ill-will, Lady Margaery. "

She would never be free, but she would live in comfort with her daughter, who would inherit in her own right. It was so much better than she had expected.

Why did the Queen spare her? To find out the answer to that, one must see how events unfolded the previous day.

Notes:

1. A high-ranking girl who has lost her father becomes a ward of the Crown. Her guardian is not necessarily her mother, but rather is appointed by the Crown. Giving Margaery guardianship of her daughter would have meant giving her effective rule of Storms End, which Daenerys had no intention of doing.

2. Queen Rhaenrya took Helaena Targaryen and Alicent Hightower captive, during The Dance of the Dragons, but they were both spared.