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This is a recap movie of Code Geass: Hangyaku no Lelouch, or Code Geass season 1.

For some reason, many watch orders for Code Geass say this is a "must watch" because it has "Lelouch's perspective." The "Lelouch's perspective" changes very little to the way you view the story, if anything at all, if you even notice any new details at all.

The second recap movie "Code Geass: Hangyaku no Lelouch R2 Special Edition - Zero Requiem" does have a short epilogue from C.C. at the end, but you can just search for that elsewhere instead of watching a two-hour movie for a minute-long speech.

There ... is a chance you may have confused this movie for "Code Geass: Lelouch of the Rebellion I - Initiation" which is the first installment of a four-part movie series (soon to be followed by an anime?) about an alternate reality of the Code Geass original series. The order for that movie series is as follows:

Code Geass: Lelouch of the Rebellion I - Initiation
Code Geass: Lelouch of the Rebellion II - Transgression
Code Geass: Lelouch of the Rebellion III - Glorification
Code Geass: Lelouch of the Re;surrection
Code Geass: Dakkan no Z

Code Geass: Dakkan no Z has not been released as of 6 April 2022, and no details have been released.

Story: It's a recap movie. There are no changes in this compared to the first season.

Art: Code Geass art style. Some love it, some hate it.

Sound: Nothing notable. Once again, it's a recap movie.

Character: Could have done more as a recap movie, but it is trying to cover 24 twenty-minute long episodes in two hours.

Enjoyment: It was alright for a recap movie, but I did not enjoy it as I had just watched seasons 1 and 2 immediately before this.

Overal/TL:DR: A recap of Code Geass Season 1. This recap movie introduces no new details to the series, and can be skipped. This movie has nothing to do with Lelouch of the Re;surrection (asides from being a recap to the first Code Geass season).
As a recap movie, it's a recap movie. It shows all of the major events to jog your memory. Nothing more, nothing less.