Five years after The King of Fighters XI, Ash Crimson has already absorbed the powers of two of the three clans who sealed the Orochi away 1,800 years ago—Chizuru Kagura and Iori Yagami—with Kyo Kusanagi's power the only piece remaining. His former partner Elisabeth Blanctorche is determined to stop him. A new tournament invitation goes out under the alias "R," organized through a woman named Rose who is secretly controlled by Those From The Past—the organization backing the last two tournaments, all in service of breaking Orochi's seal and opening a time gate for their leader, Saiki. When the winning team reaches the final, Saiki puts his endgame in motion—but Ash ambushes him, kills him, and steals his power. What unfolds is a revelation: Ash was working for Saiki but never intended to let him win. As the time gate begins to close, Ash uses his own existence as the key—suppressing Saiki's past self to deny him the ability to return, then allowing himself to be erased from history entirely. As the timeline resets, Chizuru and Iori recover their stolen powers, and most of the world forgets Ash was ever there. Elisabeth remembers.