Finding the last two digits of $5312^{442}$
As $5312\equiv12\pmod{100},5312^{442}\equiv12^{442}\pmod{100}$
Now as $(12,100)=4$ let us find $12^{442-1}\pmod{100/4}$
As $(12,25)=1,$ by Euler Theorem, $$12^{20}\equiv1\pmod{25}$$
As $441\equiv1\pmod{20},12^{441}\equiv12^1\pmod{25}$
$$\implies12\cdot12^{441}\equiv12\cdot12^1\pmod{12\cdot25}$$ $$\equiv144\pmod{300}\equiv144\pmod{100}\equiv44\pmod{100}$$
[quote] To start, you can immediately reduce 5312 modulo 100 so that you're solving $12^{442}$ instead.
Then, you solve this (mod 4) and (mod 25)
(mod 4), it is pretty clear what the result would be
(mod 25), you can use Euler's Theorem.
Then, combine the results back to (mod 100).