I thought I would post this in the spoilers section since it might contain spoilers for the endless paths of POE1. In particular the big boss at the end, the Adra Dragon aka the Master Below. 

 

While we have the option to kill her and if we do so, I imagine it will not be mentioned save for perhaps a discussion of your past exploits. But we do have the option to avoid conflict (with the dragon at least) and place her soul into the body of an old dragon hunter. A dragon hunter whom, according to the ending slides of POE1, was last seen boarding a ship... Perhaps a ship to the deadfire? 

 

if so, I would assume that the dragon might be a little surprised at the thought that the feet that they used to nibble on are now up and walking around. So what do you think? Do you believe we will see the master again and if we do, what do you want to happen?

It's certainly possible, given her connection to the statue. The devs left it wide open as to where she would go, and five years is plenty of time to wander around.

I honestly doubt we will ever meet her again but it would be possible if not likely we overhear npc's mention the dragon slayer.