I think what they tell you depends on the child. You say she is quiet and shy so hopefully they will talk about how she is settling in first to reassure you.
My dd is the same and there were concerns how she would get on in Yr3 with lots of differnt teachers - this was the first thing they reassured me about and actually she loves it!
Not sure that 'reading age' has any real relevance in Yr3 does it - they are pretty much all reading 'proper' books by now aren't they? Unless she reads lots they will probably suggest she broadens her range of books to increase her vocabulary - standard comment at dd's school
Our school are doing some sort of CAT? assessment and we will get the results at the end of term so maybe you could ask if they do that? I think it looks at how they are performing reletive to their potential and picks up issues early.
Another possibility is to see what topics they are doing next term so you can be aware and work with her eg we knew dd would do the Romans so spent some time at the Roman museum in Cirencester but avoided Caerleon as the teacher said they would go there on a trip
Spelling and grammar seems to be a hot topic too - maybe see if there are any trends she needs to work on that you can help with.
Another very important thing our school did is explain how they teach maths - I was doing vertical addition with dd (which her logicalmind latched onto straight away) but they do much more mental arithmatic and strategies so it helped to know the concepts so we could 'work thro sums' too to reinforce them
IME the 10 mins goes so fast
that is really time to have a general chat and if thre are any major issues go back another time.