Michael Bay makes really long movie, with really quick scene transitions. We all know that.
When asked about the run time for Transformers: Revenge of the Fallen, Bay says
I don’t ever talk (to executives) about run times. Studios always ask, ‘What’s the run time?’ And I’m like ‘If you enjoy the movie, do you care?
With that said, it’s being reported that the sequel to the 143 minute Transformers will come in a 147 minutes (2 hours 27 minutes), which is a mere 4 minutes longer than the first.
That is as is, as of right now. I’m sure that the studios will chop the film down a little bit, move scenes around, add credits, etc, which will alter the total runtime when the film hits theaters.