This exercise is from the Core Skills section on Bends.

This is a very common blues technique using bends and fingerpicking. It sounds good and its an excellent practice exercise. When you start planning your own riffs and solos you'll find that including little licks like this will work wonders!

Bend the E note on the 9th fret of the G string with your 3rd finger. You can support it with your second finger if you wish, but leave your first finger fretted across the top 2 strings at the 7th fret. You will need to keep that finger in place in order to move quickly between bending the E, then playing the F# and B notes fretted by your first finger.

Repeat it as shown in the ActionTab, then move the whole lick up by 2 frets. This means you'll now be bending the F# on the G string with your 3rd finger at fret 11, and holding the G# and C# with your 1st finger on the top 2 strings. After repeating this lick as shown, then move back by 2 frets again.

Notice that the bends are full bends. That is, you bend the note up to reach the note that would otherwise be 2 frets higher.

Incidentally, in this case the note you bend to will be the same note you are holding on the B string with your first finger. So, when you bend the E you bend it up to F#. That is also the note your first finger is holding on the 7th fret of the B string. The same applies to the next part of the lick - Bend the F# up to G#, which is the same note your first finger is holding on the B string!