Less than an hour after the previous installment, John Wick (Keanu Reeves) finds himself a hunted man in Manhattan. Following the unsanctioned assassination of crime lord Santino D'Antonio within the New York City Continental, John is declared "Ex-Communicado" by the High Table and a staggering $14 million bounty is placed on his head. While evading the relentless assassins, he seeks refuge in the New York Public Library, where he uncovers a crucifix necklace and a mysterious "marker" medallion hidden within a book. Faced with an onslaught of attackers in New York City, John ultimately makes his way to the Director (Anjelica Huston), a significant figure from his past who operates a theater. She accepts the crucifix as a "ticket" for safe passage to Casablanca, Morocco, branding John to signify the exhaustion of his favors.
Meanwhile, an Adjudicator (Asia Kate Dillon) from the High Table confronts Winston (Ian McShane), the Continental's manager, and the Bowery King (Laurence Fishburne), the leader of a network of rogue assassins. The Adjudicator rebukes them for their part in supporting John against Santino and demands they relinquish their positions within seven days or face dire consequences.
Once in Casablanca, John meets Sofia (Halle Berry), a former ally and the Continental's manager. Presenting his marker, John implores her to assist him in locating the Elder (Saïd Taghmaoui), a high-ranking figure within the High Table, the only one who outranks it. Sofia directs him to Berrada (Jerome Flynn), an assassin who cryptically suggests John wander through the desert until he can no longer walk to find the Elder. In a dangerous encounter, Berrada demands one of Sofia's dogs in exchange for information; when she refuses, he shoots the dog, prompting Sofia to retaliate by shooting Berrada as they fight their way out of the Kasbah into the unforgiving desert.
After fulfilling her marker, Sofia leaves John to his fate in the desert. Exhausted, John collapses but is rescued by the Elder's men. He explains his desperate need to live on, hoping to honor the memory of his beloved wife. The Elder consents to lift John’s bounty, but only on the condition that he eliminate Winston and work for the High Table until his demise. Proving his loyalty, John mutilates his own finger, relinquishing his wedding ring to the Elder.
Simultaneously, the Adjudicator employs the lethal assassin Zero (Mark Dacascos) and his cadre of students to enforce the High Table's will. Their intervention leads to punishing consequences for both the Director and the Bowery King. Returning to New York City, John finds himself pursued by Zero's mercenaries, who come close to ending his life just as they reach the Continental, now under threat of being declared Ex-Communicado. Zero, revealing his admiration for John, is ignored as John meets with Winston, who urges him to preserve his humanity rather than perish as merely a killer.
When the Adjudicator arrives, Winston remains steadfast in protecting his territory, while John refuses to do the Adjudicator's bidding. The Adjudicator retaliates by revoking the Continental's neutral ground status, escalating the stakes. She dispatches two busloads of heavily armed High Table enforcers, but with the support of the hotel concierge Charon (Lance Reddick), John valiantly defends the Continental. Initially, the enforcers easily overtake the Continental guards, yet John and Charon ultimately retaliate using armor-piercing rounds. In the chaos, John confronts Zero and his students; he successfully defeats them, sparing only two, before fatally wounding Zero.
A negotiation transpires between Winston and the Adjudicator, who acknowledges John's rebellion as a "show of strength.” Just as John arrives, Winston shoots him multiple times, leading to John plummeting from the roof of the Continental. As the hotel resumes operations, the Adjudicator informs Winston that John's body has mysteriously vanished, leaving him still a significant threat. In a gripping conclusion, John Wick is rescued by the injured Bowery King, who expresses his indignation towards the High Table, promising to fight back. In response to the King's wrath, John simply nods and says, “yeah.”
