Fluellen bemoans the fact that the French, against the laws of war, have killed the English boys who were guarding the luggage. They have also looted the King's tent.
Gower's comment in praise of the King's decision to kill the French prisoners prompts Fluellen to compare Henry favorably with Alexander the Great.
Henry enters with his army and some noble French prisoners, including Bourbon. This makes it clear that the French counter-attack has failed.
Henry is angry at the killing of the boys, and sends a message to the remaining French either to come and fight or withdraw from the battlefield. If they do neither, the English will attack, and show no mercy. He will also order the killing of all the latest prisoners.
Montjoy the herald enters, asking permission for the French to bury their many dead. Henry replies that he does not know the outcome of the battle, since many French still ride over the battlefield. Montjoy confirms that the French have surrendered. Henry praises God rather than attributing the victory to their own strength.
Fluellen engages the King in a conversation that recalls the victories in France of Henry's grandfather (he actually means Henry's great-grandfather Edward III) and emphasizes the fighting qualities of the Welsh.
Williams enters as Montjoy and Gower depart. Williams has the glove in his cap that Henry gave him, as a sign of the quarrel they were to resume after the battle. Henry has Williams brought to him. Williams of course does not know that his adversary is the King himself, and Henry tells him he must keep his vow when he meets the man concerned. After Williams exits, Henry gives Williams's other glove to Fluellen and tells him to wear it in his cap. He knows that Williams will probably strike Fluellen, and that the hot-tempered Fluellen will try to hit back. He sends Warwick after them to make sure that his little joke does not cause any real harm.
In this scene Henry displays the character traits we have become familiar with during the course of the play. He can on occasion display ferocity, as when he threatens to kill the second batch of prisoners. But accompanying that there is a humility that allows him to attribute his success not to his own skill and courage but to God. He does not boast of his achievements. And in the prank he plays on Williams, there is even a hint that the playfulness of the old Prince Hal is not entirely extinguished.