The game is set after the events of BlazBlue: Calamity Trigger. A few days have passed since the reported raid by Ragna the Bloodedge. With the NOL offering no official explanation, the citizens voice their own theories, exaggerating and spreading rumors like wildfire. Completely indifferent to the state of the city, Ragna waiting for the chance to achieve his true objective, and then, the enormous "power" that has ensnared Ragna begins to activate.