Although Avengers: Endgame has the word “end” in it, that wasn’t the conclusion of the first three phases of the MCU. That honor will go to Spider-Man: Far From Home, which will have a similar function to how Ant-Man closed out Marvel Phase 2 following the events of Avengers: Age of Ultron. Speaking to ComicBook, Marvel Studios head Kevin Feige explained:

“We've been working for many years on Infinity War and Endgame and Spider-Man: Far From Home. Those were the films that were culminating the entire Infinity Saga of the MCU. And as we were working on Endgame we realized that the true end of the entire Infinity Saga, the final film of Phase 3, had to be Spider-Man: Far From Home, because—spoiler—we lose Tony Stark at the end of Endgame… The relationship between Peter Parker and Tony Stark is so special…”

Because Marvel has been so tight-lipped about what comes after Far From Home—even though we know Black Widow is currently filming and other projects are in various stages of development including The Eternals, Guardians of the Galaxy Vol. 3, Black Panther 2, and Doctor Strange 2—we really don’t know what Phase 4 even means for the MCU. However, Feige’s comments make clear that Far From Home isn’t the start of Phase 4 but rather a conclusion because of the relationship between Tony Stark and Peter Parker.

And that’s fine! I would also assume that Marvel Studios didn’t want to start a new storytelling phase with another studio’s movie (Sony owns Spider-Man even though Marvel Studios controls the creative development of the character), so Far From Home is the “outro” of this whole saga. Assuming there’s ever a Phase 3 box set, it will be interesting to see if Sony includes Homecoming and Far From Home.

Spider-Man: Far From Home opens July 2nd.