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To compress Microsoft PowerPoint files for email or online sharing, follow these steps: First, click on an image in your presentation and go to the Picture Tools Format menu to select "Compress Pictures." Keep the top two boxes checked and use the default resolution, then click OK to reduce image size. Next, navigate to the File Save As menu, select Save Options, and access the Advanced option. Tick "Discard editing data" and lower the Default resolution to save more space. Finally, save the presentation as a new file to create a separate, reduced-size PowerPoint presentation.