So, how do you do it? The depressing answer is – you can’t! It’s silly beyon belief that this self evident function is not there.
In an ideal world, there would be a plug-in to Total Commander that would access your Exchange/Outlook as a file system, but there isn’t. Luckily there is a solution that I am testing just now: Pandali Folder Master for Outlook. It supports all Outlook version between 2003 and 2013.