In case you missed the first episode of Dontnod's episodic adventure Life is Strange, go play it. It did a great job of setting up following episodes. It had you making choices that will directly affect Episode 2 and the following episodes.
Episode 2: Out of Time has officially made its release across platforms and will be taking Max and Chloe on adventure in new places, with new characters.
If you only bought Episode 1, you won't have direct access to Episode 2 without purchasing the Season Pass. Each episode will not be able to purchased separately, so be prepared to hand over $16.99 if you purchased Episode 1 on its own or $20 if you still need to purchase Episode 1.
If you purchase the Season Pass you will have access to all five episodes. Episode 2 continues the storyline, picking up with Chloe trying to convince Max to explore her powers while Max attempts to help Kate Marsh who is a victim of a prank.