One movie is the Hobbit. The second covers the period between then, and the beginning of the Fellowship: The Necromancer of Dol Goldur, the return of the Nine to Minas Morgul, etc.
The idea that the second movie will be for the period between The Hobbit and TLOTR has been denied. Instead more of the things going on off scene in the Hobbit will be shown, such as meetings of the White Council, led by Saruman and including Gandalf and Radagast the Brown. Also the driving of the Necromancer out of Dol Gurdor, more of the battle of Long Lake and the battle of the Five Armies.
The idea that the second movie will be for the period between The Hobbit and TLOTR has been denied. Instead more of the things going on off scene in the Hobbit will be shown, such as meetings of the White Council, led by Saruman and including Gandalf and Radagast the Brown. Also the driving of the Necromancer out of Dol Gurdor, more of the battle of Long Lake and the battle of the Five Armies.