From the liner notes

From the press notes:
They're in the book and on this disc. From the director of Watchmen and 300 come two tales from the celebrated graphic novel that do not appear in the extraordinary Watchmen theatrical feature. Tales of the Black Freighter brings to strikingly animated life the novel's richly layered story-within-a-story, a daring pirate saga whose turbulent events may mirror those in the Watchmen's world. Stars from the Watchmen movie team in the amazing live-action/CGI Under the Hood, based on Nite Owl's powerful first-hand account of how the hooded adventurers came into existence. Two fan-essential stories, one place to watch the excitement. Watching the Watchmen begins here.