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