The Kaiju monsters keep coming through the portal, and the good guys are quick running out of money to keep the program running. The Joint chiefs meet up, and decide to pull it in favour of a sea wall - funding will stop when the defences are ready, and until then the Jaegers will be a back-up.
Idris Elba finds Becket, whose brother died, at a steel works and entices him back. The world watches as another Kaiju emerges from the deep and easily breaks through the sea wall near Sydney.
Becket finds a partner on his same "wavelength", Mako, and he is soon ready to return to his patched-up Jaeger from before.
They don't have long to practice before two "Type 4" Kaiju's emerge from the Abyss. All the new Jaegers are sent out.
The Chinese and the Russians lead the way, and get in a few good shots, but the monsters tear them up. The British reserve team then disobey a command and join the fray, but soon need rescuing. An EMP is emitted from the monsters. Their only hope is the old nuclear Jaeger piloted by Becket and Mako.
The fight continues on dry land, and it takes a long time for Jaeger to overpower and rip apart the tubby little monster. The other pterodactyl type Kaiju grabs the Jaeger and soars out of the atmosphere, but Becket manages to slice through its wings in time.
Ron Perlman leads his salvage crew to claim what they can find. One of the mad scientists gets involved and has a theory that the beasts have a hive mentality. The tubby monster is pregnant and a little creature bursts out, but chokes on it's umbilical chord - but not before devouring Ron Perlman. The two mad scientists join forces and "drift" together to get into the brain of the deceased infant to see what they can learn.
The rift opens again. Pentecost suits up to get inside the other last remaining Jaeger, an old version from the early days. Two Type 4 Kaiju emerge - but just guard the rift. As the two Jaegers approach, with a plan to detonate and close the rift, the mad scientists warn them to stop - the bomb will not make it through.
Just then the first "Type 5" monster emerges. Becket and Mako manage to slice through one of the creatures. Pentecost's Jaeger is badly damaged from an attack by the larger creature. Bravely, with his partner they detonate their nuclear core (a Jaeger Bomb! No?) to take out the last two creatures, allowing Becket's Jaeger to grab a Kaiju carcass and jump through the rift.
On the other side he floats down into a new world. They are losing oxygen and Becket ejects Mako to safety. He initialises the detonation sequence, then escapes in a pod himself. The Jaeger explodes, taking out a large part of the alien world, and closing the rift for good.
Back on Earth, both escape pods float to the surface, and both pilots seem none the worse for wear.
And Ron Perlman seems to have survived too.