After Loki escapes with the Tesseract from the Battle of New York in 2012, he creates a new timeline, whereupon he gets arrested by the Time Variance Authority, who force him to watch events from his future and enlist his help to capture a Loki variant.
Agent Mobius assigns Loki to a mission, much to the discontent of Renslayer, who doesn't trust the God of Mischief. As they manage to track down the Loki variant, things get out of hand.
As the Variant arrives at the TVA headquarters, she is confronted by Loki, which results in both of them being teleported to a moon that's about to be destroyed.
The TVA manages to locate Loki and Sylvie, and after they arrest them, things spiral out of control; meanwhile, Mobius makes a startling discovery.
After being pruned by Renslayer, Loki ends up in the Void, where he finds many of his variants. Loki, Sylvie, and Mobius are reunited, after which they set out to take on Alioth.
Renslayer sets out to find He Who Remains, the creator of TVA; meanwhile, Loki and Sylvie reach him, whereupon an ill-considered decision brings about disastrous consequences.