"Lupin III: Episode 0 'First Contact'" serves as a prequel to the main "Lupin III" series, exploring the origins of the iconic thief Arsène Lupin III and his first encounter with his future partners. Set before the events of the original series, the story begins with Lupin III attempting to steal a priceless artifact known as the "Crimson Heart of Cleopatra" from a heavily guarded museum. During the heist, he crosses paths with Daisuke Jigen, a skilled marksman and assassin hired to eliminate him. Despite their initial confrontation, the two form a reluctant alliance after realizing they share a common enemy: the powerful and corrupt organization known as the Black Society.

As Lupin and Jigen work together to outmaneuver the Black Society, they encounter Fujiko Mine, a femme fatale with her own agenda. Fujiko's motives remain ambiguous, as she alternately aids and hinders the duo, keeping them on their toes. The trio's dynamic is further complicated by the introduction of Inspector Zenigata, a determined Interpol officer who becomes obsessed with capturing Lupin. Zenigata's relentless pursuit adds tension to the narrative, as Lupin and his allies must evade both the Black Society and law enforcement.

The plot revolves around the Crimson Heart of Cleopatra, a gem rumored to hold immense power. The Black Society seeks to harness its potential for their own nefarious purposes, while Lupin aims to claim it for himself. The story unfolds through a series of high-stakes heists, double-crosses, and narrow escapes, showcasing Lupin's cunning, Jigen's sharpshooting skills, and Fujiko's manipulative charm. The narrative also delves into the origins of Lupin's rivalry with Zenigata, providing context for their enduring cat-and-mouse relationship.

By the end of the story, Lupin, Jigen, and Fujiko emerge as a loosely connected team, setting the stage for their future adventures. The film effectively establishes the core dynamics and personalities of the main characters while delivering a self-contained story that enriches the "Lupin III" universe. The focus on Lupin's early exploits and his first interactions with key figures provides a foundational backdrop for the series, making it a significant entry in the franchise.