The first instalment in Peter Jackson's Hobbit trilogy has not yet had its running time confirmed, but based on the Lord of the Rings trilogy, between half an hour and 50 minutes of footage is likely to be added to the extended version.
The extended edition will be released late in 2013, directly before the theatrical release of the second film The Hobbit: The Desolation of Smaug.
Set 60 years before The Lord of the Rings, The Hobbit films star Martin Freeman as Bilbo Baggins, Richard Armitage as Thorin Oakenshield and Benedict Cumberbatch as Smaug, while returning Rings cast members include Ian McKellen, Elijah Wood, Hugo Weaving and Cate Blanchett.
All three films are being shot in digital 3D, and will receive a limited run in the controversial 48fps format.
The Hobbit: An Unexpected Journey is released on December 14.
Watch the trailer below: