Although Sam Hargrave has an idea for where it could go, he hasn’t revealed his Extraction 3 story idea. So far, the Extraction franchise has been following an anthology format with Rake picking up a new black ops rescue mission in each movie. Since Joe Russo is expanding the franchise’s worldbuilding in his script for Extraction 2, the next sequel might not be another standalone adventure; it could turn the series into a more serialized, interconnected affair. The Extraction 3 plot could revolve around a mission with more personal stakes involving people close to Rake.
The Extraction franchise could start to feel stale if the movies keep following the same formula of Rake embarking on a rescue mission. The third entry in an action movie franchise is usually the one that breaks the mold. After John McClane spent the first two Die Hard movies confined to one location in a hostile takeover, Die Hard with a Vengeance sent him all across New York City with a sidekick. Indiana Jones was mostly a lone wolf in his first two adventures, but Indiana Jones and the Last Crusade teamed him up with his estranged father. Extraction 3 could similarly try a new narrative framework or character dynamic.