As where it takes place in the timeline, Liman stated, "It does pick up right where we left off, but it doesn't keep going forward because we screw with time, because the aliens screwed with time." Lastly, it is revealed that it is a two-movie series, and that this is the completion of the story that was set up in the first movie.
The upcoming film will be once again directed by Doug Liman, with Erwin Stoff and Tom Lassally set to produce the film. In addition, Joe Shrapnel (Race, Frankie & Alice) and Anna Waterhouse (Race, On the Shoulder of Giants) will write the upcoming film with Edge of Tomorrow screenwriter Christopher McQuarrie (Rogue Nation) in talks to produce the film, and develop the script with Shrapnel and Waterhouse.
[Source: Anime News Network]