To do Alt + J + P + E + 2 on Mac in PowerPoint, download and install Accelerator Keys, then press Option, followed by J, P, E, 2.
Command: Change Picture
This is how to do Alt + J + P + E + 2 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 + E + 2 opens the Change Picture menu in PowerPoint. This allows you to replace the selected picture with a different image while preserving the size, position, and formatting of the original picture.