A level cap increase, costumes, missions, and raid bosses
Gearbox confirmed at their PAX Australia panel that Borderlands 2 will be getting a level cap upgrade (to 72), and new raid bosses and missions in the form of DLC. The level cap DLC will be called the "Ultimate Vault Hunter Upgrade Pack 2: Digistruct Peak Challenge," and will be priced at $4.99 (I still can't believe they're charging for this), with an intended release date sometime in October.
The challenge itself features the character Patricia Tannis, who allows you to fight "high level" enemies for loot. In addition to this paid DLC, a free title update will be coming to increase ammo, bank, and backpack slots.
If you aren't satisfied with that, "Headhunter" packs are also coming, with more mission and boss content, one of which will feature T.K. Baha (of Borderlands 1), and a boss fight against "Jacques O' Lantern." Right now Gearbox doesn't have a set date or price on these Headhunter packs, but states there might be "two or three" of them. More skins will also be coming, including Dragon Keep flavored costumes.
So provided you're excited for all this, here's the bad news -- as expected (and clearly listed on the description itself), the Season Pass will not include any of this content. More info will be revealed in the future, including Gearbox's "Community Day" on September 14th. I wouldn't count out a "Season 2" pass.
Well, it looks like my wish of a fully-fledged campaign similar to Dragon Keep isn't happening. Instead, we're getting a ton of different micro-transactions that I'll have to sift through the marketplace for, and attempt to locate amidst the cavalcade of costume DLC.
Borderlands 2 [OXM]