$\!\begin{align}{\bf Hint}\ \ {\rm mod}\ 5\!:\,\ \color{#c00}{2^{\large 4}\equiv 1}\,\Rightarrow\, 2^{\large 118}
\equiv &\ \ 2^{\large \color{#0a0}2\ +\ \color{#c00}4\cdot 29}\\
\equiv &\ \ 2^{\large 2} (\color{#c00}{2^{\large 4}})^{\large 29}\\
\equiv &\ \ 2^{\large 2}(\,\color{#c00}1\,)^{\large 29}\\
\equiv &\ \ 2^{\large\color{#0a0} 2}\end{align}$
i.e. we can replace $\, 118\,$ by $\,\color{#0a0}2 = 118\bmod\color{#c00} 4\ $ because $\ 2^{\large \color{#c00}{4}}\equiv 1\pmod{5}$
i.e. exponents on $\,2\,$ can be considered $\!\bmod \color{#c00}4\,$ (when working $\!\bmod 5)$
because the powers of $\,2\,$ have a cyclic repeating pattern of length $\color{#c00}4$