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To extract the last name from a list of names in Excel, use the formula: `=TEXTAFTER(cell, " ", -1)`. The first argument of the TEXTAFTER function is the cell containing the full name, and the second argument is the delimiter, which is a space (" "). The "-1" specifies that you want to extract the last instance of the delimiter, effectively retrieving the last name. Copy this formula down to apply it to additional cells.