[step:Establish the bijection with $\operatorname{Spec}(S^{-1}R)$ via contraction and extension]We construct the bijection in two parts: define the maps, then prove they are mutually inverse.
**Contraction preserves primality.** Let $\mathfrak{q} \in \operatorname{Spec}(S^{-1}R)$. The contraction $\mathfrak{q}^c = \iota^{-1}(\mathfrak{q})$ is a prime ideal of $R$ (since the preimage of a prime ideal under a ring homomorphism is prime). By part (3), $\mathfrak{q} \neq S^{-1}R$ implies $\mathfrak{q}^c \cap S = \varnothing$ (if some $s \in \mathfrak{q}^c \cap S$, then $\frac{s}{1} \in \mathfrak{q}$ and $\frac{1}{s} \in S^{-1}R$, so $\frac{1}{1} = \frac{1}{s} \cdot \frac{s}{1} \in \mathfrak{q}$, contradicting $\mathfrak{q} \neq S^{-1}R$). So contraction defines a map $\operatorname{Spec}(S^{-1}R) \to \{\mathfrak{p} \in \operatorname{Spec}(R) : \mathfrak{p} \cap S = \varnothing\}$.
**Extension preserves primality for primes disjoint from $S$.** Let $\mathfrak{p} \in \operatorname{Spec}(R)$ with $\mathfrak{p} \cap S = \varnothing$. By part (3), $\mathfrak{p}^e \neq S^{-1}R$. We show $\mathfrak{p}^e$ is prime by exhibiting $S^{-1}R / \mathfrak{p}^e$ as an integral domain.
[claim:The quotient $S^{-1}R / \mathfrak{p}^e$ is isomorphic to $\bar{S}^{-1}(R/\mathfrak{p})$]
Let $\bar{S}$ denote the image of $S$ under the projection $R \to R/\mathfrak{p}$. There is an isomorphism of rings $S^{-1}R / \mathfrak{p}^e \cong \bar{S}^{-1}(R/\mathfrak{p})$.
[/claim]
[proof]
Consider the composite ring homomorphism
\begin{align*}
\varphi: R \xrightarrow{\;\iota\;} S^{-1}R \xrightarrow{\;\pi\;} S^{-1}R / \mathfrak{p}^e,
\end{align*}
where $\pi$ is the canonical projection. The kernel of $\varphi$ is $\iota^{-1}(\mathfrak{p}^e) = \mathfrak{p}^{ec}$. Since $\mathfrak{p} \cap S = \varnothing$ and $\mathfrak{p}$ is prime, the image of $S$ in $R/\mathfrak{p}$ consists of nonzero elements of the integral domain $R/\mathfrak{p}$, hence contains no zero divisors. By part (2), $\mathfrak{p}$ is contracted, so $\mathfrak{p}^{ec} = \mathfrak{p}$.
By the first isomorphism theorem, $\varphi$ induces an injective ring homomorphism $\bar{\varphi}: R/\mathfrak{p} \hookrightarrow S^{-1}R / \mathfrak{p}^e$. For every $s \in S$, the element $\bar{\varphi}(\bar{s}) = \pi(\frac{s}{1})$ is a unit in $S^{-1}R / \mathfrak{p}^e$ (since $\frac{1}{s}$ maps to its inverse). By the universal property of localization, $\bar{\varphi}$ extends uniquely to a ring homomorphism $\bar{S}^{-1}(R/\mathfrak{p}) \to S^{-1}R / \mathfrak{p}^e$, sending $\frac{\bar{r}}{\bar{s}} \mapsto \pi(\frac{r}{s})$.
This map is surjective: every element of $S^{-1}R / \mathfrak{p}^e$ has the form $\pi(\frac{r}{s})$ (since elements of $S^{-1}R$ are fractions $\frac{r}{s}$), which is the image of $\frac{\bar{r}}{\bar{s}}$.
This map is injective: if $\pi(\frac{r}{s}) = 0$, then $\frac{r}{s} \in \mathfrak{p}^e$, so $\frac{r}{s} = \frac{a}{t}$ for some $a \in \mathfrak{p}$, $t \in S$. There exists $v \in S$ with $v(tr - sa) = 0$, i.e., $vtr = vsa \in \mathfrak{p}$. Since $v, t \notin \mathfrak{p}$ (as $\mathfrak{p} \cap S = \varnothing$) and $\mathfrak{p}$ is prime, $r \in \mathfrak{p}$, giving $\bar{r} = 0$ in $R/\mathfrak{p}$, hence $\frac{\bar{r}}{\bar{s}} = 0$ in $\bar{S}^{-1}(R/\mathfrak{p})$.
[/proof]
Since $R/\mathfrak{p}$ is an integral domain and $\bar{S}$ consists of nonzero elements of $R/\mathfrak{p}$, the localization $\bar{S}^{-1}(R/\mathfrak{p})$ is a subring of $\operatorname{Frac}(R/\mathfrak{p})$, hence an integral domain. By the isomorphism above, $S^{-1}R / \mathfrak{p}^e$ is an integral domain, so $\mathfrak{p}^e$ is a prime ideal of $S^{-1}R$.[/step]