>>7831941No, it's made like one of those fabric belts without holes, basically the two metal rings are held to the belt by a loop at one end of the belt where it is doubled back on itself.
I made a Terri let diagram but I'm not sure it will help.
1 is the way the rings are held to one end of the belt.
2 is the way the loose end of the belt is threaded thru the 2 rings to be tightened. The thick brown line is the loose end, the thin one is the part from fig 1.