This episode discusses three exceptions to the octet rule: incomplete octets (e.g., boron in BF3), odd electron species with an unpaired electron (e.g., NO), and expanded octets (e.g., sulfur in SF6). It explains that atoms in period 3 and beyond can have expanded octets due to available d orbitals. It emphasizes that while most molecules follow the rule, these exceptions are predictable based on an atom's period and total electron count and are crucial for understanding molecular behavior.