In the year Post Disaster 323, the political conflict between Gjallarhorn and the Arbrau parliament has escalated into open combat, a crisis ultimately resolved by Tekkadan, the young soldiers from Mars. Their fame spreads across the solar system, reaching the ears of Wistario Afam, a boy born and raised on the Radonitsa Colony floating near Venus. Unlike Mars, which won the race for development, Venus is a forgotten frontier world, now used primarily as a penal colony for the disenfranchised whose inhabitants lack even basic identification. Desperate to change the harsh conditions of his homeland, Wistario dreams of a better future. His life is upended when he encounters a mysterious girl named Cornal Cossa, who declares herself a guide to something called the Urdr-Hunt. She congratulates him, announcing he has qualified to enter a dangerous race that offers a prize vast enough to purchase an entire colony.

The story of the Special Edition movie is a compilation of animated footage originally created for the discontinued mobile game Iron-Blooded Orphans G, re-edited with new narration to form a cohesive theatrical experience. Set in the timeline between the first and second seasons of the original television series, the film follows Wistario as he is thrust into the high-stakes Urdr-Hunt. Piloting a Gundam Frame named Hajiroboshi, which was discovered on the colony, he travels from the lawless reaches of Venus to the political battlegrounds of Mars. Along the way, he crosses paths with smugglers, mercenaries like the veteran pilot Cyclase Meyer, and the lingering remnants of Gjallarhorn's influence. The narrative focuses on Wistario gathering his crew, including his caretaker Denmar, and confronting the challenges of the race while learning about the Calamity War-era secrets tied to his mobile suit.

The central conflict revolves around Wistario's struggle to earn enough money and power to liberate his people from their status as non-citizens. However, the Urdr-Hunt is a perilous contest filled with rival competitors and the threat of mobile armor relics from a bygone war. Unlike the brutal and often tragic path of Tekkadan, Wistario's journey is portrayed as a lighter adventure, focusing on a more optimistic protagonist who relies on friendship and a desire for genuine justice rather than ruthless survival tactics. The Special Edition serves as a fast-paced digest of this side-story, using voiceover from Cornal Cossa to bridge the gaps between key animated sequences.

The movie is presented as a double feature alongside a separate tenth-anniversary short film titled Wedge of Interposition. This short returns to the core cast of the original series, depicting a moment of respite for Tekkadan after their return to Mars. It shows characters like Orga Itsuka, Mikazuki Augus, and Kudelia Aina Bernstein as they grapple with their newfound fame and the growing pains of expanding their organization, offering a lighter interlude before the darker events of the second season.