THOR refuses the crown of Asgard and returns to Earth to be with JANE, who is expecting their first child. LOKI LAUFEYSON makes himself the King of Asgard and imprisons his adopted father ODIN.

LOUHI, Mistress Of The North, the Queen of Pohjola, a dark and desolate place on the furthest edge of the Northern hemisphere, has for centuries been building a machine called Sampo with the help of of a scientist called VISIN. 
Pohjola has been harvested, there is nothing left in the mines 
and the fields, LOUHI has to conquer further realms.

LOUHI needs a final piece for the Sampo, something powerful to turn it into a forge, where weapons so great no power or magic will be able to to withstand them, can be built. She hears of a group of guards in Asgard who are not happy about Loki being on the throne and asks them to steal Uru (the Asgardian metal Thor’s hammer Mjölnir is made of) for her in turn for well paid positions in her employ once she is the Queen of Asgard.

LOKI hears of the turncoat guards and the missing Uru. Suspecting an impending war he sends SIF to Earth to get THOR. The Uru completes the machine and with the help of the new weapons LOUHI’S daughter, the leader of her army, NEITO conquers Asgard. THE WARRIORS THREE FANDRAL, VOLSTAGG AND HOGUN are taken as prisoners of war.

Just before the battle LOKI decides to go to Pohjola to see what LOUHI is up to but there is a kink in the time space continuum 
and he ends up in New Jersey in 1973.

THOR and SIF return to Asgard but they are too late. They manage to escape to the nearby friendly realm of Alfheim. LOKI catches up with them via Pohjola where he sees the machine and the weapons.

LOKI, THOR and SIF come up with a plan to kidnap NEITO and use her a bargaining tool to get LOUHI to give up Asgard and return everything she has stolen. LOKI kidnaps NEITO and takes her to Earth where with the help of JANE he imprisons her in a S.H.I.E.L.D facility in London while THOR goes to negotiate with LOUHI.

THOR meets LOUHI but she is not willing to strike a deal. LOUHI moves the Sampo and the whole of her operation to Asgard and asks VISIN to infuse the Tesseract into the weapons to them even more powerful.

LOKI stays in London to talk to NEITO and surprisingly they find out they have quite a lot in common. They start to warm to each other. LOKI finds her an equal and when NEITO says she wants to help and end LOUHI’S mad schemes, LOKI believes her.

FREY, the king of Alfheim tells THOR he can use his army to 
regain control of Asgard. THOR goes to Earth to get LOKI.

LOKI tells THOR NEITO is now on their side and that THOR can trust her. NEITO goes to Asgard to talk to her mother to try to find a peaceful solution. LOKI, THOR and FREY kidnap LOUHI’S scientists and take the Sampo to Alfheim where they force the scientists to make weapons, even better than the new ones Louhi has, for FREY’S army.

LOUHI is outraged that NEITO now sides with the Asgardians and disowns her. NEITO goes to Alfheim to meet up with LOKI but just as she gets there LOUHI’S assassin KIJA kills her in front of LOKI.
LOKI is devastated and kills the assassin.

FREY’S army, THOR, LOKI and SIF arrive in Asgard just as LOUHI is about to have THE WARRIORS THREE executed. An almighty battle between FREY’S army, THE WARRIORS THREE, SIF, THOR and LOUHI’S army ensues.

LOKI goes to kill LOUHI. They fight and LOKI manages to wound her but she casts a powerful spell and kills him. Just as he dies ODIN appears and tells LOUHI that LOKI is in fact her son. She does not believe a word of it and tries to escape. THOR catches up with her and takes her to a mountain top. Just as he is about to kill her LOKI appears and kills her. LOUHI falls over the edge of the mountain and drags LOKI with her. They both die.

When LOUHI dies the spells she cast on the weapons stop working and FREY’S army overpowers LOUHI’s army. ODIN sends remaining LOUHI’S troops back to Pohjola with a message to LOUHI’s oldest daughter AIRI - she is the new Queen of Pohjola and the war is over.

AIRI wants nothing but peaceful relations between the two nations and gladly signs a peace treaty. FREY arrives to Asgard with NEITO’S body, ODIN and AIRI decide to bury LOKI and NEITO together in Asgard.

JANE gives birth to a son. They call him LOKI. 

The end.

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