It Chapter Two

Twenty-seven years after the summer of 1989, Mike Hanlon remains in Derry while the other Losers have moved away and suppressed their memories. When a new string of murders signals IT's return, Mike calls each of them back to honor the blood oath they swore as children. The call shatters Stanley Uris — unable to face what's coming, he takes his own life.

The group reunites at a Chinese restaurant, triggering floods of painful memory. Mike reveals a plan: the Ritual of Chüd, a ceremony he believes can destroy IT permanently. Each Loser must retrieve a personal artifact tied to their deepest childhood fear before the ritual can be performed. They scatter across Derry, hunted as they search — Beverly is captured by Pennywise and brought to the Neibolt house, where the others rescue her.

Together, the Losers descend into the caverns beneath Derry to perform the ritual. It fails. Mike confesses he withheld the truth: it had failed for the indigenous tribe who first tried it, killing them all. Pennywise transforms into a massive spider-like form, monstrous and seemingly invulnerable.

The Losers discover what has always weakened IT: laughter, mockery, and disbelief. They use their words as weapons, ridiculing Pennywise until IT physically shrinks. In the chaos, Eddie Kaspbrak is mortally wounded and dies before he can be carried out. The survivors rip IT's heart from the body and crush it, ending the creature for good.

As Derry itself begins to collapse inward — its infrastructure crumbling as if the evil that fed it is gone — the Losers surface to grieve and say goodbye. A posthumous letter from Stanley is revealed: he chose death not from fear, but as a gift, knowing his terror would doom them. Ben and Beverly leave together. Richie Tozier returns to the kissing bridge where he had carved initials as a boy — "R + E" — and begins to carve again. Mike, finally free, drives out of Derry for the first time in his life.