Treyarch has confirmed that Black Ops 2 will have one ending this is because of their branching story lines, and every person can have a slightly different ending, with a ‘similar’ closure for everyone. Treyarch states:
“Those success and failures are cataloged so that – at the conclusion of your single player experience – if you have succeeded at all your Strike Force levels, you will have a different geo-political ‘wrapper’ around the conclusion of your game. This wrapper would be different than the one I would have seen if I played through and failed all of my Strike Force missions,” Rafacz continued, “Now, succeed or fail, if you want to go back and replay them, or choose different Strike Force missions, you can do that.
Rafacz explained Geo-Policitcal wrapper by saying, “Well, you know, it’s still in development. So it’s too early to kind of talk about how many endings there are, but it’s safe to say that throughout the course of the campaign, you will have the opportunity to play a handful of Strike Force levels. I think the important thing here – and you touched on this – is that it’s the geo-political wrapper,” Rafacz explained, “We will all share that same story, we are playing that same gift, we just get different colour wrapping paper.”