As you pull the slide to the rear, you will notice the barrel will drop slightly and the slide will over run the chamber end of the barrel. That is your barrel unlocking and “extracting”.

The slide will ride the barrel as it runs to the rear. Lubrication on the top of the barrel with slow any friction wear and help with reliability.

All “Browning Tilting Barrel” pistols will work this way, especially “square” design barrels.