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To apply a new template to an existing PowerPoint presentation, first open the presentation you want to use as a template. Go to the File tab and select "Save As." In the dialog box, choose "PowerPoint Template" from the "Save as type" list and click "Save." Next, open your existing presentation. In the Design tab, expand the themes gallery and select the "Browse for themes" option at the bottom. Navigate to the location of the saved template, select it, and click the "Apply" button. This will update all your slides to adopt the new design and formatting from the template.