Tyler seemingly dies after succeeding in his mission to extract Ovi (Rudraksh Jaiswal), but the last shot of the movie sees Ovi emerging from a pool and realizing he's been watched by a mysterious figure.

Did Tyler rake die at the end of extraction?

Rake sees the mission as a chance at redemption following the death of his own son, which leads to him sacrificing himself during a firefight to save young Ovi (Rudhraksh Jaiswal). Rake dies.

Will there be an extraction 2?

Extraction 2 is likely coming to Netflix in 2022, likely in the later part of the year. Expect at least a year of production and post-production for the new Netflix sequel before it's released on Netflix. If that happens, Extraction 2 will likely be released around the holiday season of 2022.