How modified EUI-64 works
The 48-bit MAC is split in half, FF:FE is inserted in the middle to make 64 bits, and the seventh bit of the first byte (the U/L bit) is flipped. So 52:54:00:12:34:56 becomes the interface ID 5054:ff:fe12:3456.
That 64-bit interface ID is appended to fe80::/64 for the link-local address, and to any /64 prefix the router advertises for the global address.