I'm not saying that this will be the ending, this is just my theory:
Carver's camp is starting to get run over by the walkers as the remaining group members escape to get out, Clem gets separated from the group as Carver grabs her from behind. He takes her to the front edge of the camp (as you saw at the end of the preview with the parking lot and walkers), he holds her over the edge with many walkers below as she tries to fight free of Carver's grasp. She manages to push Carver back by biting his thumb like she did to the guy in episode 1, Carver pushes Clem to the edge with a gun to her face and says some final words. Then Carver gets shot in the side by Bonnie as he drops to the ground, Bonnie stands there with the gun, sad. Clem thanks Bonnie. Carver gets himself on his knees as he's coughing and badly injured, a small conversation starts between him and Clem about things will never change and stuff like that. Clem says final words and she pushes Carver off the edge with her foot, Carver falls on the walkers and gets eaten and killed. Bonnie walks up to Clem and says it's time to go, they regroup with the others and escape the camp. The camera pans to the camp then screen blackens, end of episode.
What do you think?
UPDATE: Why is my text red? lol