Barney Ross (Stallone) is the leader of a washed-up band of ex-pros who call themselves The Expendables, mercenaries for hire. Approached by a 'Mr. Church' (Bruce Willis), Ross's team are hired to assassinate the dictator of a tiny South American island - but on a recon mission with his trusty sidekick Christmas (Statham), Ross discovers that all is not what it seems.

Ross and Christmas make it back home safe, but Ross can't stop thinking about the girl he left behind on the island - who happens to be the Dictator's daughter. Knowing she will be in trouble, he has a heart-to-heart with Mickey Rourke, while Christmas has girl troubles of his own, before deciding to fly out to the island alone to take on the force of a few thousand armed soldiers single-handedly.
  His men can't let him go alone, but on his way to the runway Gunner (Dolph Lundgren) shows up with the evil American Businessman's assassins to take out Ross. The American Businessman - an ex CIA agent called Munroe - is the real brains behind the cocaine trade on the island and the growing unrest.
  Gunner sabotages his own crew, before he gets into a fight with Ying Yang - until just before he is about to kill little Jet Li, Ross shoots him just above the heart. As he is dying, Gunner tells him about the layout of the Dictator's mansion on the island.

The Expendables travel to Vilena and secretly enter the grounds of the mansion, planting explosives pretty much everywhere and killing anyone they meet.  The alarm is soon raised when Ross rescues the dictator's daughter and there is about half an hour of death and explosions bigger than anything you'll have seen in Rambo.
  Steve Austin gives Stallone the Smack Down, before he makes his escape when the creepy guy from White Chicks takes out his armour piercing explosive rounds.  The Dictator gives a rising speech to his men against the evil of America, before Munroe shoots him in the back. Trapped, Ross decides to blow the place up.

The Expendables kill a few more hundred guards, before they destroy the chopper that is Munroe's means of escape.  Austin fights against some lesser-known good guy and is burned alive in a petrol lake.

Munroe has Ross's girl captive and shoots Ross (in the vest - they never learn) before he gives the usual 'you should have worked for me' monologue. Then at the same time Ross shoots the bad guy in the chest with a concealed gun while Christmas throws a knife through his back to properly finish him off.
  Everyone can now go home happy. And Gunner is there to meet them - apparently feeling fine, forgiving his fellow guys and ready for the sequel.  But as they say in Austin Powers - no one ever thinks about the families of the henchmen.