The elderly Loki explains to Loki that this is a void, a place where a powerful creature called Alioth resides. Sylvie interrogates Judge Renslayer and learns that Loki is not dead but trapped in the void at the end of time. When a timeline is pruned, it is not destroyed but transferred to this place to halt its development. Renslayer proposes collaborating with Sylvie, as she also wants to uncover the truth behind everything.
Through conversations with the elderly Loki and other variants, Loki discovers that this place is the TVA's dumping ground, where all pruned elements are sent. The reason there are so many Loki variants here is that Loki always survives. Alioth devours everything in this void to ensure no one escapes. Loki suggests escaping, but the elderly Loki ignores him, having tried and failed many times before. Kid Loki tells Loki that he killed Thor, and Loki simply laughs. They then enter an underground castle, passing by a helicopter belonging to Thanos and even a frog version of Thor along the way.
Sylvie uses a time controller to summon Miss Minutes, attempting to access files about the TVA's creation. Sylvie recalls her past escapes through apocalyptic timelines, where her actions couldn't cause Nexus events. At the end of time, in the void where no new timelines form, nothing she does will cause Nexus events either. Sylvie expresses her desire to go to the void, and Miss Minutes suggests using a void ship to get there. Renslayer and Sylvie agree to use the ship to find Loki and the mastermind behind everything. Suddenly, Hunter D-90 bursts in, and Sylvie snatches Renslayer's time controller, hides, and then prunes herself to enter the void.
The elderly Loki tells Loki that he wasn't killed by Thanos and lived alone until he decided to seek out his brother Thor. Just as he was about to do so, the TVA captured him. Loki returns to the surface and encounters President Loki.
Sylvie arrives in the void and immediately encounters Alioth. She uses her magic to touch Alioth's smoke, seemingly glimpsing its mind and catching a flash of an unknown castle. Suddenly, a car appears, and Sylvie jumps in, only to find Mobius inside.
President Loki attempts to take over the underground castle but is stopped by the elderly Loki and others. Just as a conflict seems inevitable, the situation devolves into chaos due to the unpredictable nature of the Loki variants, resulting in President Loki's demise. The elderly Loki uses his magic to create illusions and opens a portal for everyone to escape safely. Encouraged by Loki, the group decides to help him approach and defeat Alioth.
Sylvie and Mobius evade Alioth's consumption, but Sylvie insists on returning to confront the creature. Based on her earlier contact with Alioth, she believes the way to escape is to enchant it.
As Loki and the others prepare to approach Alioth, a warship pruned by the TVA suddenly appears. Loki plans to strike when Alioth gets close to the ship, but Alioth destroys it instantly, leaving Loki stunned. Soon after, Loki reunites with Sylvie and the others, and they exchange greetings. Sylvie shares her theory that Alioth is guarding the true mastermind behind the TVA and proposes enchanting it.
Renslayer learns from Hunter B-15 about Sylvie's ultimate goal, which aligns with her own intentions. Renslayer uses Miss Minutes to access all files related to the TVA's creation.
Sylvie and Loki talk, expressing hope that they can face the future together. The group confronts Alioth, and Mobius decides to use a time controller to return to the TVA and "burn it to the ground." Kid Loki and the elderly Loki choose to stay in the void. Loki volunteers to act as bait to give Sylvie time to enchant Alioth. However, Alioth ignores Loki and attacks Sylvie directly. The elderly Loki creates an illusion of Asgard to distract Alioth, who turns its attention to the fake Asgard. Sylvie seizes the opportunity to begin enchanting Alioth. The elderly Loki, exhausted from using his magic, is consumed by Alioth. At that moment, Sylvie succeeds in enchanting Alioth, and a portal appears before them.