Fatal Frame 2: Crimson Butterfly has a total of six endings that you can get for Mio and Mayu, meaning it has two more than the original game. The Crimson Butterfly ending is the default ending that you need to complete before you unlock New Game+, and once you have the option to use NG+, you’ll be able to get four of the other endings (The Abyss, The Promise, Remaining Sun, and Sprouting Wings).
As for the fifth alternative ending, you can unlock it without New Game+. It’s called Lonely Road Home, and it counts as your game being over. So, if you go down the path for this ending, you’ll have to load back to a previous save to get another ending, such as Crimson Butterfly.
You’ll choose your ending at one of two points: Kureha Shrine or the Ritual Altar. Each ending requires you to do something specific at one of those points, which is usually equipping a certain Spirit Stone.
Fatal Frame 2 Remake – Crimson Butterfly Ending

This is the default ending, so you’ll have a pretty straightforward time getting it. After defeating the wraiths after the pinwheel puzzle, you’ll go back to the Old Tree, and then follow the Crimson Butterfly to find Mayu again.
The butterfly takes you to the Kurosawa house. Inside, you need to pick up Mayu’s Charm from the floor. Then, take a right to go through the Guest Hallway and Cloth Hallway to reach the Altar Room.
You see Mayu and receive the task to chase her to the Hall of Ropes. You’ll encounter a boss as you make your way to the Ritual Room, and you’ll need to fight several wraiths as you go through the Deep Tunnel. Finally, you reach the Kusabi boss fight. This is the last fight, and once you beat him, you’ll go to the Abyss and trigger the Crimson Butterfly ending, which has Mio sacrifice Mayu like Yae did to Sae.
Fatal Frame 2 Remake – Lonely Road Home Ending

This is the only other ending that doesn’t require New Game +, and the easiest ending to get. After the pinwheel puzzle and when you’re separated from Mayu again, just go into Kureha Shrine yourself and exit through the secret door, skipping the Kusabi boss fight. Then, you get a game over and the achievement for completing this ending.
Fatal Frame 2 Remake – The Abyss Ending

You need to be in New Game+ for this ending. Then, follow the same series of events as the Crimson Butterfly ending until you reach the outside of the Kusabi boss room. Before you enter, you need to equip the Kusabi Sparkling Spirit Stone, which you get from completing the Kusabi side story after the Crimson Butterfly ending.
After fighting Kusabi, you continue to the Abyss, where you find Mayu possessed by Sae. This starts a battle with her that ends with Sae being driven out of Mayu, and Mio sacrificing her sight to catch Mayu before she falls into the Abyss.
Fatal Frame 2 Remake – The Promise Ending

Similar to the Abyss ending, you need to complete a side story in New Game+ for the Promise. However, this one requires Yae’s side story to be complete so you have her Spirit Stone.
Otherwise, you’ll follow the same sequence as Crimson Butterfly. When you’re outside the Altar Room, equip Yae’s Spirit Stone. Then, enter the room and chase Mayu to the Kusabi fight.
Unlike the Abyss ending, there isn’t an extra fight against a Sae-possessed Mayu. After the Kusabi fight, you’ll go to the Abyss and trigger the cutscene that shows Yae and Sae’s spirits reunited, freeing the spirits of the town. This is likely my personal favorite for an ending.
Fatal Frame 2 Remake – Sprouting Wings Ending

This is where endings become more complicated to get. You need to complete the Crimson Butterfly, the Abyss, and the Promise to get Sprouting Wings, because that’s the only way you’ll have both Yae’s and Mayu’s Spirit Stones.
Like other endings, you follow the same sequence to the Kusabi boss room, and you need to equip both Yae’s Spirit Stone and Mayu’s Spirit Stone before you enter.
After the Kusabi fight, you’ll fight Sae again like in the Abyss Ending. The fight is the same, but the difference is that when you defeat her, Mayu is standing on the edge of the Abyss. You need to sprint to her and hold her hand to trigger the ending, where the twins are saved by Yae and Sae, and the spirits of the town are freed.
Fatal Frame 2 Remake – Remaining Sun Ending

This is the most difficult ending to get. You have to play on Nightmare, but you also have to get the Abyss, Promise, and Sprouting Wings first, as well as complete Mio’s side story for her stone. However, Mio’s side story isn’t available until all other side stories are completed.
From here, you follow the same sequence as Sprouting Wings, but you equip Mio’s Spirit Stone before fighting Kusabi. Then, you have the Sae fight again, but you have to finish the fight in less than a minute.
After defeating Sae, you grab Mayu’s hand again to trigger the same cutscene as Sprouting Wings. However, this ending includes an extra scene with Mio and Mayu talking on a bench.
For the most part, you can use chapter select to make it easy to just run through the last section of the game repeatedly to gather the endings. The only alternative ending where this isn’t the case is the Remaining Sun one, and you have to start the game from the beginning to get it.

