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To apply a template to an existing PowerPoint presentation, first, open the desired presentation and click on the File tab, then select "Save As." Choose "PowerPoint Template" from the "Save as type" list and save it. Next, open your existing presentation and go to the Design tab. Expand the themes gallery and click "Browse for Themes" at the bottom. Navigate to the saved template's location, select it, and click the "Apply" button. This will change the design of all your slides to match the new template's look and formatting.