The show will be the twelfth No Way Out event and the first one since 2009. Six matches have been officially announced.

No Way Out (2012) Online Free Live Stream No Way Out (2012) Online Free Live Stream

No Way Out will feature professional wrestling matches that involve different wrestlers from pre-existing feuds, plots, and storylines which are played out on WWE's primary television programs. Wrestlers portray villains or heroes as they follow a series of events that build tension and culminate in a wrestling match or series of matches.

The main event of the pay-per-view involves John Cena and Big Show. On the May 14 edition of Raw, the General Manager of Raw and SmackDown John Laurinaitis fired Big Show for making fun of his voice. At Over the Limit, just before John Cena would defeat Laurinaitis, Big Show used his WMD and knocked out Cena, allowing Laurinaitis to pin Cena. The next night on Raw, Laurinaitis revealed that he gave Big Show back his job, complete with an ironclad contract with a bonus on the condition that he would take out Cena as Show was outside the influence of the no interference stipulation for the match. Show stated that he only helped Laurinaitis when he didn't receive any sympathy from the other Superstars, and because of his ironclad contract, started attacking those Superstars. Laurinaitis would soon book a match between Cena and Big Show inside a steel cage for the pay-per-view.

The main event of SmackDown was originally Sheamus defending his World Heavyweight Champion title against Alberto Del Rio. Following a successful title defense by Sheamus against Del Rio, Randy Orton and Chris Jericho at Over the Limit, Del Rio, Orton and Kane competed in a Triple Threat match on the May 25 edition of SmackDown to earn a match against Sheamus for his title. Del Rio successfully pinned Kane to score a match against Sheamus at No Way Out. Del Rio was pulled from the match following a concussion during the June 8th Smackdown.[3] On the June 11 edition of Raw, Dolph Ziggler defeated Christian, Jack Swagger and The Great Khali in a Fatal-Four Way Elimination match to become the new number one contender for the World Heavyweight Championship.

The main event of Raw involves the WWE Champion CM Punk defending his title in a Triple Threat match against Daniel Bryan and Kane. On the May 18 edition of SmackDown, Punk was put in a match against Kane, where Bryan was in commentary observing the match. Bryan would run interference by attacking Kane with a steel chair and making it look like Punk did it, causing Kane to attack Punk. On the May 21 edition of Raw, Bryan, who demanded a rematch due to Punk tapping out moments after scoring the pin during their WWE Championship match at Over the Limit, was facing off against Kane, set up by Punk in which the situation nearly reversed itself. Afterwards, Kane would start attacking both indiscriminately after being a pawn in each of their plans. On the June 1 episode of SmackDown, which involved Punk defending the WWE Championship against Kane, Bryan would interfere in the match, attacking both once more, only for Kane to chokeslam both Bryan and Punk. Afterwards, John Laurinaitis came out to announce a Triple Threat match involving Punk, Bryan and Kane.