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XLSB — Excel Binary Workbook
XLSB is Excel's binary workbook format: the same content as XLSX, but stored in a binary form that opens and saves faster for very large files.
Excel 2007 and later can save workbooks as XLSB. It suits huge spreadsheets with many formulas, but Google Sheets, LibreOffice and most other tools handle it poorly.
Converting to XLSX or CSV makes the data usable everywhere.