±0.5% tolerance — the regulation anchor for the feedback loop
Its ±0.5% tolerance on the internal 2.495 V reference means the output voltage of the supply will hold to within half a percent of the programmed value over the initial tolerance — no trimming pot needed for many designs. The cathode can sink up to 100 mA, which covers the bias current for an optocoupler LED in a flyback feedback loop or the pull-down for a linear regulator's adjust pin.
2.495 V to 36 V — what the adjustable range buys the BOM
The output voltage is set by two external resistors, and the part regulates from the internal 2.495 V minimum up to 36 V maximum. That 36 V ceiling covers the common intermediate bus rails (12 V, 24 V, 28 V) and the auxiliary windings in a 48 V telecom supply. The minimum cathode current of 700 µA sets the lower bound for the bias resistor: the resistor must pass at least 700 µA at the lowest input voltage to keep the reference in its linear region.
Industrial temperature range — qualified for the harsh environments
The SOT-23-3 package keeps the footprint small — three pads, no thermal pad to route — so it fits into tight bias-supply sections on a 2-layer board.