"Frozen 2" is officially happening.

Two months after Disney announced that the much awaited sequel to the hit animated film was coming to fruition, the excitement of its follow up continue to be high. While there were a lot of rumors regarding the second installment of the "Frozen" animation franchise, co-director Chris Buck says that they themselves still "have lots of things to figure out."

"At least, we know where we are going," Buck told ABC News.

Although he refused to give away any key details about how the second movie is going to end, he did mention that "Frozen 2" will feature a "terrific ending." He also gave away a couple of hints that had fans guessing whether Princess Anna might face a situation where she gets to save Queen Elsa.

Reportedly, Buck, Jennifer Lee and the rest of the crew are working on the plot in a backward manner. Apparently, the film's ending has already been completed and everyone will work from there. However, the team still has a lot to work on, considering that a film's most important details are embedded in its middle portion.

Movie News Guide revealed that the storyline of "Frozen 2" is rumored to have some close ties with "Ozma of Oz," which was written by L. Frank Baum. The protagonists in these two stories are reportedly similar since both Dorothy and Elsa possess powers within them to do "what is needed to be done."

Plus, another similarity lines up with speculations that Elsa and Anna will have to face off an evil king, one who turned the royal family and the other people into ornaments. This plot is a bit familiar to the "Oz" story. 

Prince Hans will also reportedly return to the sequel.

However, he will be returning as one of the good guys to help the sisters fend off the devious advances of the evil king on the village. According to online reports, he might have reformed while he was incarcerated.

Although the film's official release date remains unconfirmed, it has been reported that "Frozen 2" will be out in 2018. The waiting public expects the sequel will also be as high-grossing as the first film, which garnered more than $1.27 billion in the global box office, according to the Daily Mail.