Oversized PST File Creating Problems: How to Shrink It?

I am facing an issue with my Outlook where my PST file has become oversized and is now causing slow performance and frequent freezing. Outlook takes too much time to open, and sometimes I get warnings that the PST file has reached its maximum size. I have already tried deleting some old emails, but it hasn't made a significant difference. I am not very experienced with PST management, so I am not sure what the best or safest method is to shrink the file size without losing any data. Can anyone suggest reliable methods to reduce or compress an oversized PST file?

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