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Polypheme
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Before you do that, check details on what is the maximum Partition size you can use for a FAT32 File System. In a few cases you have to make two smaller Partitions and Format them separately to stay within that limit.
 

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Polypheme
Ambassador
evongugg prompted me to look it up myself on M$ Support. It does say there is a real size limit on FAT32 Partition size ONLY if they are created as part of the XP Install process. (So, it is recommended NOT to INSTALL to a FAT32-formatted Partition.) But when creating from a running version of Windows, the articles suggest FAT32 File System can be used on Partitions up to 2 TB, well beyond OP's concerns.