Unscrew the nut listed as 1.
Once loose, hold nut listed as 1 and unscrew bolt listed as 2 to new desired length.
Item listed as 3 is a piece of sheet metal with a nut affixed to it, the tab prevents it from spinning. This is the part that I described as the nut inside the fiberglass of the hatch, no need to remove it as it is fairly well held in place.
As a reminder make sure you align the slot in the bolt properly to catch when the hatch is closed or your hatch can randomly open, or simply be yanked upwards to get in the trunk.
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