How do Facebook deferred deep links work?

Question

I'm trying to understand how deferred deep links work in Facebook and I could not any info on how, only on why and how to setup. So from what I could find I imagine the schema is as follows, I would appreciate if anyone could correct the wrong parts:

1. Marketer provides a deep link when he creates a Facebook ad
2. User sees the ad, clicks it, Facebook stores user info (which?), associates it with fbclid = FB click id, then sends the user to the app store
3. User installs the app, Play/App Store passes the fbclid to the app (what other info does it pass?)
4. Facebook SDK tells Facebook that the app was installed with a certain fbclid, Facebook logs the installation, returns the deep link, app processes it

Is it correct?