Ephesians 2:4-10

v4-7: We who were spiritually dead, cut off from God, are now spiritually alive with Christ.  We have been saved from sin and wrath because of God's great love for us and mercy towards us.  "Our believing in order to be saved and our obtaining salvation through faith are entirely owing to divine help and grace."

v8-9: Our faith, our conversion, and our eternal salvation are gracious gifts from God.  They do not come to us because of anything we have done, or "of any natural abilities or of any merits of our own,"  and so "all boasting is excluded."

v10: We are saved and given new life for a purpose.  We are to glorify God by living "an exemplary life and by our perseverance in holiness." These are good works that God has prepared for us to do beforehand, and He will help us to do them by the "influence and activity" of His Spirit.