I haven’t seen your original trunk pan, so assuming it is as you describe, this is what I would recommend .
Before you do anything take pics and measurements of the gas tank supports on the bottom of the trunk pan. Even if you have/need new supports you need to know exactly where they go so the straps line up with the gas tank grooves.
Save that rubber grommet that has the wire going thru it. Pics of the jack and spare tire brackets.
If your tail panel is in good shape, leave it alone.
Do not lap weld any part of the trunk pan, it will be a source of embarrassment.
If you want to save as much original metal as you can, cut out the rotten areas of the trunk pan and drill out the spot welds for the gas tank supports with a spot weld cutter. NOT a regular drill bit.
Draw a line & cut the old trunk floor pieces out cleanly with a jig saw, thin 4 in cut off wheel, or body saw and you can use the pieces as a template to cut the new pieces slightly bigger (1/4 or less). Also mark where the tank support spot welds were drilled out. Mock them into place and scribe a line exactly where to trim the excess off the patches until you have a great fit.
Inspect the upper shock mounts for cracks, now is the time to fix them if they need it.
Use the new pieces as patches and butt weld them in from the BOTTOM wherever possible, this will reduce the amount of grinding you have to do in the trunk. Plug weld the new holes in the pan to the gas tank supports.
Same for the extensions, drill the spot welds and cut out the rot. Use the old piece as a template, etc.