The dwarves finally got rid of Smaug and reclaimed Erebor. Smaug fled and terrorized Laketown, forcing the people to abandon their homes and seek refuge from the dwarves. The Elves brought their army in order to reclaim their sacred treasures in Erebor. Sauron sent an army of Orcs to sneakily conquer Erebor in order to possess a strategic point for the upcoming war.
As the title suggests, this movie is about war.
There's not much of a plot in this final installation of The Hobbit series. The main conflict of this flick is on deciding which tribe to trust and knowing the real enemy. Once that is resolved, there's only one sole thing to do - FIGHT!
This movie rely so much on over elaborated fight scenes and over dramatic deaths - which is not necessarily bad. As a person who loves action movies, I really enjoy The Battle of the Five Armies. However, many complain that the fights are too long.
So I guess it comes down to whether you like long and elaborated fighting scenes or not.
By the way, the actors and actresses are superb. Those epic lines, facial expressions and fight choreographies... Wow, I was so impressed with their performance.
If there's anything for me to complain then it is the way the producers drag this movie into 3 hours length. They could just spare all the drama and move on straight to the climatic fights. But of course, Hollywood, baby! Gotta figure out how they could squeeze more money out of it. Luckily, the performance of each cast was so good that the pace didn't feel draggy for me. It felt just nice.
All in all, this movie has long action scenes which I love and the actors and actresses did a really great job in acting out their characters. This is a very satisfying conclusion for the series.