Not quite. EP has much more of a clearly defined setting than straight out-of-the-corebook D&D does. Think something like Shadowrun, only without the near-singular focus on "you play a criminal for hire." I mean, you COULD play a criminal for hire, sure...but you could just as easily be an activist, a salvage expert, a security consultant, a soldier, etc.
The book DOES give you a default hook if you don't have one of your own, which is that characters can all be members of a clandestine organization called Firewall, whose purpose is to prevent so-called "existential threats" to transhumanity at large. In the EP setting, something like 90% of the human race is dead or quarantined on a hostile, war-ravaged Earth, and even with cortical backups the state of the (trans)human race is pretty fucking precarious. Firewall works to basically keep people from doing stuff that imperils what remains, mostly focusing on the disastrous leftovers of the war that saw people kicked off of Earth by hostile, self-improving Skynet-esque A.I.s...things like self-replicating nano-disassembler weaponry, multi-vector viruses capable of rewriting peoples' minds and transforming them into alien monsters with abilities that, at times, seem to violate the laws of science as transhumanity understands them, memetic programs of overwhelming potency, etc.
Oh, and that Space Cthulhu mentioned earlier? Yeah, not a lot of people know about that, but Firewall does...and Firewall strongly suspects that Space Cthulhu is the REASON why the A.I.s on Earth went kill-crazy. Also, those crazy, possibly alien-corrupted A.I.s? They didn't stick around on Earth...they left. And they're still out there, somewhere.