1. Lift Siegfried in MIME, the blacksmith, grew up in the forest. When he investigates his parents, MIME tells him of Siegfried's mother, who died at birth, leaving only the broken sword Nothung, worn by his father in the last fight. When Siegfried is on the move once again in the forest, a wanderer, in which one recognizes Wotan, and MIME to a knowledge bet calls out, which loses this appears. The Wanderer, MIME also know that only those who does not know fear, could forge the sword Notung newly. MIME knows that this person is Siegfried. MIME promises Siegfried learning of the Fürchtens in the fight with the Dragon Fafner. Secretly, he hopes to gain the Nibelung ring from Fafner kept and the Nibelungenhort by Siegfried. Siegfried succeeded immediately to forge the sword Nothung.
2. Lift Mimes brother Alberich wakes up the Dragon Cave. The Wanderer, searching them, announces the arrival of mimes and Siegfried to him. Silly ego will fail trying to persuade Fafner of the ring. Siegfried kills Fafner after recently. After the dragon blood of Siegfried has wet mouth, this is the language of the birds. A Wagner Siegfried on ring and Hort draws attention. Again rushing about MIME, Siegfried after the death seeks, he kills with the sword Nothung, and follows the Waldvogel, who tells him about the sleeping Brünnhilde.
3. Lift The Wanderer awakes Erda and tells her that he would abdicate in favor of the young Siegfried. But the leading cause Siegfried treated the hiker hardly different from previously MIME. He smashes the walkers which are the way to a fire to rocks blazed spear, where once the sword of Siegfried's father broke up Siegmund, and carves. There, he finds the sleeping Brünnhilde, he evokes. Both wake up in love for one another.