March 26, 2014

Cree First to Break 300 Lumens-Per-Watt Barrier

Continues to Push the Boundaries of LED Performance
DURHAM, NC -- Cree, Inc. (Nasdaq: CREE) records another significant LED milestone with the demonstration of 303 lumens per watt from a white, high-power LED. Reaching the landmark achievement much faster than previously believed possible, this result surpasses Cree’s previous R&D industry-best of 276 lumens per watt announced just over a year ago.

Cree Reaches 303-LPW LED Milestone“This is truly an impressive accomplishment. Achieving this level of LED efficacy amplifies the potential for the solid-state-lighting industry to deliver smaller, lower-cost lighting solutions, and even larger-than-expected energy savings,” said Steven DenBaars, professor and co-director, Solid State Lighting and Energy Center, University of California, Santa Barbara.

Cree reports that the LED efficacy was measured at 303 lumens per watt, at a correlated color temperature of 5150 K and 350 mA. Standard room temperature was used to achieve the results.

“Relentless innovation is a driving force at Cree as we continue the pursuit of 100-percent LED adoption,” said John Edmond, Cree co-founder and director of advanced optoelectronics. “Pushing the boundaries of LED performance is critical to enhancing LED lighting designs, and this 303 lumens-per-watt result will enable more cost-effective lighting solutions.”

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, backlighting, electronic signs and signals, power suppliers and solar inverters.

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

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 we may be unable to develop and release commercial products with performance comparable to the development results described above; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; the risk that we may be unable to manufacture products based on such technology and development results with sufficiently low cost to offer them at competitive prices or with acceptable margins; 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.