February 20, 2014

Cree Extends Breakthrough XSP Series Street Light Performance to Outdoor Area Lighting

New Area and Wall Pack Options Obsolete Legacy HID and Cut Energy Use by 65 Percent
DURHAM, NC -- Cree, Inc. (Nasdaq: CREE) is expanding its outdoor lighting portfolio with the new XSP Series Area LED luminaire and the XSPW™ Wall Pack LED luminaire, which cut energy consumption by 65 percent* and nearly eliminate maintenance costs to easily replace the millions of outdated HID luminaires currently installed in North America. Leveraging the breakthrough innovations from the industry-changing Cree® XSP Series LED street light, the Cree XSP Series Area LED luminaire and the XSPW Wall Pack LED luminaire provide unmatched performance at an affordable price that makes the switch to LED lighting the clear choice.

XSP Area and Wall-Mount luminaires“The Cree XSP Series Area and XSPW™ Wall Pack luminaires represent the latest examples of Cree’s mission to replace inefficient technologies with LED alternatives that provide the price, quality and energy savings that dramatically improve the lighting experience and save customers money,” said Norbert Hiller, Cree executive vice president, lighting. “These new luminaires provide high performance, nearly maintenance-free lighting for up to 100,000 hours, ending the need for compromised metal-halide alternatives.”

Featuring Cree’s NanoOptic® Precision Delivery Grid™ optic technology, the XSP Series Area LED luminaire and the XSPW Wall Pack LED luminaire deliver better optical control and more uniform white light than metal-halide fixtures. Both the XSP Series Area LED luminaire and the XSPW Wall Pack LED luminaire offer multiple mounting and optical options to support a variety of installations and applications. Both luminaires are backed by Cree’s 10-year limited warranty.

The Cree XSP Series Area LED luminaire and XSPW Wall Pack LED luminaire are sold through Cree lighting sales channels throughout the U.S. and Canada. Please visit www.cree.com/lighting/xspwall and www.cree.com/lighting/xsparea to learn more.

* Compared to metal-halide wall packs and 400-W probe-start metal-halide luminaires

About Cree
Cree is leading the LED lighting revolution and making energy-wasting traditional lighting technologies obsolete through the use of energy-efficient, mercury-free LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting and semiconductor products for power and radio-frequency (RF) applications.

Cree's product families include LED fixtures and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. Cree® products are driving improvements in applications such as general illumination, electronic signs and signals, power supplies and solar inverters.

For additional product and company information, please refer to www.cree.com/lighting.

This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk that actual savings and lifetimes will vary from expectations; the risk that we may be unable to manufacture these new products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the risk we may encounter delays or other difficulties in ramping up production of our new products; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 30, 2013, and subsequent filings.

Cree® and NanoOptic® are registered trademarks, and XSPW™ and Precision Delivery Grid™ are trademarks of Cree, Inc.