On Apple\'s iOS 6.0 feature page, it used to say
Take advantage of the built-in camera’s advanced features. New APIs let you control focus, exposure,
It looks like they've updated that linked text—there's no mention of new APIs for exposure:
Use powerful new features of the built-in camera. New APIs support real-time video stabilization, an improved LED flash, and face detection and display. You can get reports of dropped frames during capture and leverage new utilities to map UI touches to focus and exposure commands. And apps that support iPhone 5 can take advantage of low light boost mode.
There is an opt-in low-light boost mode for iPhone 5, detailed here by Jim Rhoades (and in this developer forum post, log-in required).