The comic that arguably has the most influence on The Penguin is Batman: Dark Victory by Jeph Loeb and Tim Sale, which serves as a direct sequel to Batman: The Long Halloween. In Batman: Dark Victory,

The Batman and The Penguin gave clues to the possible next villain in Matt Reeves' upcoming sequel. A scene from The Penguin teased the possibility of introducing Hush as villain in The Batman Part II. The Elliot clan, one of the most powerful families in Gotham City, was also mentioned in Matt Reeves' The Batman.

Here's how The Penguin sets up The Batman Part II — and why Colin Farrell's Oz Cobb might not be the main villain.