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To export a smaller file size in Premiere Pro, click on the button and follow these settings: change format from h.264 to h.265 for higher quality in the same file size, set presets to custom, click on Match source in the video tab, enable two boxes under More, set performance to Hardware encoding tier high, for bitrate encoding choose vbr1 pass for smallest file size but high quality, reduce bitrate from 50 to 10 for a smaller estimated file size.
