First, a bit of overview. At the Apple event there were two physical hardware models for the iPhone 5 announced: A1428 and A1429, with three different provisioning configurations. There are hardware differences between the two models, and what provisioning boils down to is both how the phone is initially provisioned, and likely what AMSS (Advanced Mobile Subscriber Software - Qualcomm's software package that runs on the baseband) gets loaded at boot. This is analogous to how with iPhone 4S there was a single hardware model, but two different configurations for CDMA and GSM.
For the most part, the two hardware models are identical, and to most users the two models will be indistinguishable, but there are physical differences to accommodate a number of different LTE bands between the two. The Apple iPhone 5 specs page lists this at a high level, and there's an even more explicit LTE specific page with a list of what LTE bands work for what carriers. Of course, what ultimately really matters is what's in the FCC docs and in the hardware, and looking at those there are a few more bands supported than listed for LTE.
Why this is the case is interesting and a function of transceiver and Apple's implementation – with Qualcomm's transceivers (specifically RTR8600 in the iPhone 5, but this applies to others as well), each "port" is created equal, and can handle WCDMA or LTE equally. If your design includes the right power amplifiers (PA), filters, and antenna tuning, you're good to go, which is why we see LTE testing reports for bands that aren't listed otherwise. I saw this same behavior with Apple's test reports for the iPad 3 with LTE as well, there were many more tested configurations than what any carrier in the USA will run, but remember Apple's approach is about covering as many possible configurations as possible with the fewest number of SKUs.