Got a strict upload limit, how to make a pdf smaller?

I need to upload a PDF to a portal that only accepts files under 5 MB, but mine is way over. I already tried reducing the scan quality and it’s still too large. How can I make it smaller?

Honestly, the simplest fix is just running it through an online tool like ilovepdf. I have to do this constantly with bloated vendor contracts and it usally drops the file size right under the limit without messing up the text.