Am I reading the HDR visualization right?

Below is a screenshot of an empty scene with a white box (BasicShapeMaterial) with a directional light aimed directly at its top side.

The light’s brightness is set to 1.0.

Are the values under the crosshair the brightness values in the HDR scene space? If so, where does the value 0.335 come from, if the material’s color is (1, 1, 1, 1) and directional light brightness is 1?