Context
I have been using EPPLUS as my tool to automate excel report generation, using C# as the client language of the library.
Pro
As I've encountered this too, and found no real solution, I've had to come up with the solution by myself. It comes as a new library: https://github.com/danielgindi/SpreadsheetStreams.net
This is based on taking a very old piece of code of mine, that supported csv and xml, refactor the interface, add xlsx support, and publish as a standalone library.
This is not a replacement for EPPlus or other spreadsheet manipulation libraries, this one is just about streaming generation of reports. Not all excel features are there also.
Modern Excel files, ie, Xlsx files are zip-compressed, and often achieve compression down to 10%. I just uncompressed a 1.6MB file I generated using a similar tool and found it extracted to 18.8 MB of data.
You've got a 0.138 GB file that is using 1.370 GB of memory, which is almost exactly 10%. The uncompressed representation in memory is what is eating your memory.
If you're curious, you can use a tool like 7-Zip to extract the Xlsx files, or you can rename the file to end in .zip and browse it in Windows.