User blog comment:LoveWaffle/We Didn't See It Coming - Iron Man 3 and the Future of the MCU/@comment-4140661-20130516050944/@comment-1895174-20130519153132

That depends on what happens in The Avengers sequel. On one hand, an Avengers movie doesn't have to be the end of a phase. On the other, it wouldn't make sense for a film with no connection to Phase 2 to start Phase 3.