In the heart of the Norwegian wilderness, a determined group of filmmakers from Volda University College, composed of Thomas (Glenn Erland Tosterud), Johanna (Johanna Mørck), and their camera-savvy friend Kalle (Tomas Alf Larsen), sets out to create a gripping documentary focused on Hans (Otto Jespersen), a suspected bear poacher. Their adventure kicks off at the site of a recently slain bear, where they interview local hunters puzzled by the unusual tracks left behind. The students also seek out Finn Haugen (Hans Morten Hansen), the head of the Norwegian Wildlife Board, but are met with disbelief when they propose that these tracks might have been manufactured.
Unfazed, Thomas, Johanna, and Kalle decide to follow Hans deep into the forest as twilight sets in. It is here they encounter a chilling scene: mysterious lights and strange roars coming from an unknown entity. Suddenly, a panicked Hans returns, exclaiming > "Troll!"—his voice filled with dread. Soon after, Thomas suffers an unseen attack, resulting in a mysterious bite. The trio escapes in Hans's Land Rover, only to find their own vehicle in a state of chaos—its tires shredded. As they begin to comprehend the gravity of their situation, Hans unveils his shocking revelation: his hunts are not for bears, but rather for the far more terrifying trolls.
Initially skeptical, the trio proposes a bold idea: to join Hans on his troll hunt, filming their experiences along the way. Surprisingly, Hans agrees, laying down the ground rules. As Hans leads the students on their first real expedition, he instructs them to apply a repugnant disguise known as "troll stench," crafted from the most foul substances derived from trolls. He then asks a profound question: do any of them hold faith in God or Jesus? This query stems from Hans's belief that trolls can detect the blood of a Christian man, hinting at the peril they face from these legendary creatures.
Armed with a "flash gun" that emits powerful UV rays simulating sunlight, Hans successfully immobilizes a massive three-headed troll, referred to as a Tusseladd. He explains that his willingness to let the students join him stems from his frustration of working without sufficient payment and a desire to illuminate the truth regarding these cryptic beings. Meanwhile, Finn, an undercover agent for the Troll Security Service (TSS), appears with a team responsible for planting a bear carcass and creating counterfeit tracks, threatening to seize their footage.
Through revealing interviews, Hans articulates the division between his mission to eradicate trolls jeopardizing populated areas and Finn's objective of preserving the mystery surrounding these creatures. He voices his concerns regarding a recent uptick in troll aggression, which seems to be driving them closer to human settlements. To unravel the mystery, he expresses the need for a blood sample.
On another hunt, the group assists Hans by using live goats as bait positioned on a bridge. Thanks to Hans's expertise, they manage to acquire a blood sample from a Raglefant, a species of bridge troll. After submitting the sample to a veterinarian linked to the TSS, they learn that results will take several days. Their investigation leads them to a deserted mine, where they stumble upon a den of cave trolls (Dovregubbens). As they navigate the mine, they inadvertently invade the trolls' secret refuge. Tensions soar when Kalle reveals his Christian beliefs, prompting the trolls to close in on them, drawn by his scent. In a frantic attempt to escape, the group makes a desperate sprint toward daylight, but in a tragic turn of events, Kalle meets a brutal fate at the hands of the trolls.
Hans finds himself in a precarious situation as he grapples with the arrival of Malica, a devout Muslim, as their new camerawoman, and fears how this unexpected addition will resonate with the troll community. Finn, unwavering in his pragmatism, insists the group head further north into troll territory to reclaim control. Their exploration yields unsettling evidence of a Jotnar—a colossal mountain troll standing an astonishing 61 meters tall. As the urgency of their predicament heightens, Thomas begins to fall ill, revealing that the bite he sustained days prior has taken a dark turn, with lab tests indicating rabies infection.
Hans's desperation gives rise to a daring plan to take down the Jotnar, utilizing a rocket-like projectile that ultimately immobilizes the giant creature. Just before this pivotal moment, he instructs his companions to locate the nearest highway, while Finn and his TSS operatives prepare to confiscate the students' footage as proof of their unauthorized entry into troll territory. Amidst the ensuing chaos, Thomas makes a break for safety, clutching the camera, only to collapse on the roadside as the tape abruptly cuts off.
The film's conclusion leaves viewers uneasy, revealing that none of the students were ever heard from again, their fates wrapped in mystery. A news segment featuring Norwegian Prime Minister Jens Stoltenberg acknowledges the existence of trolls, yet this revelation goes largely unnoticed, amplifying the overall sense of anxiety and ambiguity woven throughout the narrative.
