To create an executable (.exe) file from a MATLAB GUI program, there is a 5 step process using the deploytool: 1) Open the deploytool and create a new deployment project, selecting Windows standalone application. 2) Add the main MATLAB file (.m) and any other files like figures (.fig) to the project. 3) Click the build button to generate the executable in the project location. 4) The build process will create an executable file that can be distributed and run independently of MATLAB.