自纽约事件以来，托尼·斯塔克（小罗伯特·唐尼 Robert Downey Jr. 饰）为前所未有的焦虑症所困扰。他疯狂投入钢铁侠升级版的研发，为此废寝忘食，甚至忽略了女友佩珀·波茨（格温妮斯·帕特洛 Gwyneth Paltrow 饰）的感受。与此同时，臭名昭著的恐怖头目曼达林（本·金斯利 Ben Kingsley 饰）制造了一连串的爆炸袭击事件，托尼当年最忠诚的保镖即在最近的一次袭击中身负重伤。未过多久，托尼、佩珀以及曾与他有过一面之缘的女植物学家玛雅（丽贝卡·豪尔 Rebecca Hall 饰）在家中遭到猛烈的炮火袭击，几乎丧命，而这一切似乎都与22年前那名偶然邂逅的科学家阿尔德里奇·基连（盖·皮尔斯 Guy Pearce 饰）及其终极生物的研究有关。
Mandarin: A true story about fortune cookies. They look Chinese. They sound Chinese. But they're actually an American invention. Which is why they're hollow, full of lies, and leave a bad taste in the mouth.
My disciples just destroyed another cheap American knock-off. The Chinese Theater. Mr. President, I know this must be getting frustrating. But this season of terror is drawing to a close. And don't worry... the big one is coming: your graduation.
Doctor: Oh, uh.
Tony: Mind leaving that on?
Tony: Sunday night's PBS "Downtown Abbey". That's the show. He thinks it's elegant. One more thing... make sure everyone wears their badges. He's a stickler for that sort of thing, plus my guys won't let anyone in without them.
Reporter A: We're awaiting the arrival of Tony Stark. We're hoping he'll give us the reaction...His reaction to the latest attack. Mr. Stark! Our sources are telling us that this is another Mandarin attack. Anything else you can tell us?
Reporter B: Hey Mr. Stark! When is somebody going to kill this guy? Just sayin'.
Tony: Is that what you want? Here's a little Holiday greeting I've been wanting to send to the Mandarin. I just didn't know how to phrase it until now.
My name is Tony Stark and I'm not afraid of you. I know that you're a coward so I've decided. That you just died, pal. I'm gonna come get the body. There's no politics here; it's just good, old-fashioned revenge. There's no Pentagon; it's just you and me.
And on the off-chance you're a man, here's my home address: 10880, Malibu Port, 90265. I'll leave the door unlocked. That's what you wanted, right?
(Tony threw the reporter's phone.)
Tony: Bill me.