Aragorn is uncovering an old statue of his mother as Elrond speaks to him.
He tells Aragorn that the elves have the power to re-forge Narsil, but only he has the power to wield it.
Aragorn doesn't want that power.
Then we see Bilbo giving Frodo his old elven sword, Sting. He also gives him Mithril armor but when Frodo goes to put it on Bilbo spots the Ring.
When Frodo won't let him hold it, he becomes momentarily possessed, reaching for the Ring as his face contorts into a dark, hollowed version of itself.
Then it fades and he apologizes for making Frodo bear this burden.
Finally it's time for the company to set out. They're on their way to Mordor.