Is extraction 2 part of a franchise?

Extraction, released in 2020 on Netflix, is an American action thriller directed by Sam Hargrave and written by Joe Russo. The film follows an Australian mercenary tasked with rescuing the kidnapped son of an Indian drug lord in Bangladesh. It is explicitly described as the first installment in the Extraction franchise. Therefore, any sequel, such as Extraction 2, would naturally belong to this franchise. The franchise designation indicates that future films will continue the thematic and narrative framework established in the original movie.