Beorn, Mirkwood with the spiders, the escape from the Elven King's palace, the trip in the barrels to Laketown, the travel to Erebor, Bilbo's encounter with Smaug, the Battle against Smaug and however they choose to end it. While the third movie wont have much material. The Necromancer, the armies of Men and Elves lay siege to Erebor, Bilbo's theft of the Arkenstone and flight to the Men and Elves where he meets Gandalf, the Battle of Five Armies, the return of Bilbo. The End. I admit that's much events, but they are not very long (except for the Necromancer and Battle of Five Armies.