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From the beginning of my Lutheran parish's Easter Vigil bulletin:

The Easter Vigil is the most important Liturgy of the Church year. In a magnificent way the Church expresses liturgically the meaning of her Lord’s Pasch, his Passover. Our Lord’s passage from death to life is the fulfillment of Israel’s passage from bondage to freedom. The Vigil is also the celebration of our own passage from sin and death to holiness and Life through the waters of Holy Baptism. Finally, the Holy Eucharist is a testimony to the coming greater celebration of life at the Messianic banquet before the throne of God.

The Liturgy consists of these parts:

...the LITURGY OF LIGHT, which centers around the Paschal
Candle. This includes the blessing of the light (a symbol of Christ, the Light of the World); a solemn procession in which the people of God follow the Light through the darkness into light; and the Easter Proclamation.

...The LITURGY OF THE WORD, which involves hearing what
God has done for His people from the beginning of creation.
This is a remembrance of salvation history as recorded in the Hebrew scriptures.

...the LITURGY OF HOLY BAPTISM, which incorporates us
into salvation’s story and new life through the water and the Word. The water is blessed, the candidates are initiated into the Christian faith through water and the Spirit, and we renew our own baptismal vows as we are sprinkled with the water.

...the FIRST EUCHARIST OF THE RESURRECTION.
Here the Church is called to the table which the Risen Christ has prepared for us through His death and resurrection. We celebrate our participation in the salvation given us by Christ.