It's Np , which means it's unnecessary complicated and will jam up with sand even if there is no sand .
Look down those slots , could be a knot end that you will need a very fine needle nose pliers to pull out . Or a fine hooky thing and a lot of swearing . The one I had was similar but different .

If you do figure it out , don't loose the tiny brass sleeve that presses up to the knot so it won't cut the rope on the sharp inside of the pulley casting.
ps , I use NP sails but will never again use NP extensions. Horrid. In the vid it looks soo easy whipping the rope around those bottom pulleys , in reality it's easier threading through a hole , ( like you do with the sail pulleys ) , .Any loss of concentration , ( which is me all over ) , and the rope jumps all over the place like a mad woman's sh.t.
Chinook