To do Alt + J + P + A + E on Mac in PowerPoint, download and install Accelerator Keys, then press Option, followed by J, P, A, E.
Command: Send Backward Menu
This is how to do Alt + J + P + A + E on Mac in PowerPoint with Accelerator Keys, the native ribbon and alt key shortcut solution for Mac users who get more done with PowerPoint.
Alt + J + P + A + E opens the Send Backward menu in PowerPoint. This provides options to move the selected picture one layer backward or all the way to the back of the stacking order.