The main key is E-flat major, and it is in ternary form.

A [a (measures 1-4) + a1 (measures 5-8) + b (measures 9-12) + a2 (measures 13-16)]

B [c (measures 17-20) + c1 (measures 21-24)]

It is in ternary form because it returns to the beginning A section via a Da Capo and concludes at the fine in measure 16.

The structure of section A can be broadly divided into 8-measure units as I [a (measures 1-4) + a1 (measures 5-8)] + II [b (measures 9-12) + a2 (measures 13-16)], which constitutes a binary structure.

The theme develops ascendingly with a dotted rhythm motif, commonly found in pieces with a hunting theme. The melody's character is further emphasized by the doubling of the same notes in octaves in both hands, creating a brave atmosphere. The middle section B modulates to the relative minor, C minor. The movement is more subdued compared to A, and the overall length of the section is also shorter.