Mines got a hole in it too. It's not a big deal, you're right, the tabs didn't go into the bottom slots on a previous job, and the force from highway speeds pushed it into a pulley, cut a little semicircle. When I found it, I just took the push rivets off, installed it properly - and off I went.
You need to remove the fan clutch to get it out. I bought some tools off ebay, but the are absolute garbage, and will not work on a 3.0i
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Compatible 32mm for BMW Fan Clutch Wrench Water Pump Holder Removal Tool Set | eBay