This exercise is from the Core Skills section on Pinch Harmonics.

Here we play 2 simple notes normally and then apply pinch harmonics to them. Rinse and repeat.

Notice that the Normal Speed version is played quite fast. This is not as easy as it may seem at first glance, because you need to slightly change how you hold the pick and where you strike the strings.

To play this kind of exercise you should make sure that you hold the pick ready to do a pinch harmonic right from the start. That means putting the edge of your thumb level with the tip of the pick.

However, for the normal picked notes we don't want the pinch harmonic, we just want a normal picked note. So, roll your thumb and forefinger forward slightly. This will cause your finger / thumb to roll back a little, extending the pick forwards a little, therefore exposing more of the pick tip. Doing this tiny adjustment enables you to get a normal pick stroke.

Roll your thumb / finger back to the pinch harmonic pick grip to play the pinch harmonics, and alternate between these two pick holding positions to play what you hear in the ActionTab.

It is a small adjustment to your pick grip that we are actually practicing here. You need just enough tip exposure to pick the normal notes, and yet have your thumb and forefinger close enough to the tip so that you can 'roll' your thumb back to being level with the pick tip in order to get those pinch harmonics.

Alternating quickly between both techniques is important to practice because when soloing at speed you have little time to fiddle with the pick!