- Jason Macendale/Hobgoblin (Identity Revealed) (Final appearance)
- Wilson Fisk/Kingpin
- Herbert Landon
- Norman Osborn/Green Goblin
- Lenny Luntz (Only appearance)
- Dormammu (Only in flashback)
- Baron Mordo (Only in flashback)
- Eddie Brock/Venom (Only in flashback)
- Morrie Bench/Hydro-Man (Only in flashback)
A man named Lenny Luntz finds the time dilation accelerator, and decides to take it to a pawn shop. However, he accidentally activates the device and spawns a black portal, which begins to engulf everything surrounding into it. Spider-Man arrives to save people in the area from getting sucked in, but he is ambushed by the Hobgoblin, who wants the machine for himself. Spider-Man almost falls through the portal, but manages not to, while the Hobgoblin escapes through a portal.
The Hobgoblin uses the time dilation accelerator to rob banks, but realizes the device is beginning to run out of power. He visits his spy in the Kingpin's organization, who gives him the last power pack available. Hobgoblin then confronts Kingpin, and although the latter is hostile at first, he accepts Hobgoblin's offer of partnership, and they plan a robbery with the time dilation accelerator, for which the Kingpin agrees to create more power packs. After the Hobgoblin has left, Kingpin begins planning to double-cross him, and decides to visit Norman Osborn, in hope of discovering the Hobgoblin's identity.
At Jason Phillips and Felicia Hardy's engagement party, Fisk pulls Osborn to one side and tries to force him to reveal the identity of the Hobgoblin. Peter, who is also attending the party, notices and spies on them as Spider-Man. Although reluctant at first, after receiving threats from the Kingpin against his son Harry, Norman agrees to meet Fisk later that night to reveal the Hobgoblin's identity. After going back to Oscorp, Norman is haunted by images of the Green Goblin again. Despite trying to resist, his Green Goblin personality reawakens, and convinces him to let him out so he can destroy Kingpin, Hobgoblin and Spider-Man.
Having learned of the Kingpin and Hobgoblin's planned heist, Spider-Man arrives at the repository to stop it, and enters the Kingpin's base through one of the portals. As Kingpin begins bearhugging Spider-Man, the Green Goblin crashes through the building and starts to fight Hobgoblin. The Green Goblin chases the Hobgoblin out of the building, but Spider-Man follows and jumps onto the Green Goblin's glider, although he is able to escape. Meanwhile, Felicia discovers Jason's hidden room containing his goblin weapons. The Hobgoblin comes back and finds her, unmasking himself as Jason. Suddenly, the Green Goblin, already aware of his identity, arrives and forces the two into one of the portals.
They arrive on the other side of the portal at Oscorp, where the Green Goblin plans to kill them by dropping them into a vat of chemicals. However, Spider-Man turns up just in time to save them. After the Green Goblin escapes through a portal, Jason is arrested and taken into custody, while Felicia is devastated.