September 30, 2014

Cree Sets Efficiency Standard with Commercially Available 150 Lumens-Per-Watt Troffer

New ZRHE LED Troffer Delivers Unprecedented 70 Percent Energy Savings
DURHAM, NC -- Cree, Inc. (Nasdaq: CREE) introduces the ZR High-Efficacy (HE) LED troffer, an industry-leading commercial specification-grade troffer designed to reduce energy consumption by 70 percent when compared to traditional fluorescent troffers, enabling greater design freedom for customers looking to achieve LEED certification. Cree’s vertical integration and LED lighting system development expertise has outpaced the industry once again by bringing a commercially available 150-lumens-per-watt LED troffer to market. With a 100,000-hour lifetime—twice as long as comparable LED troffers—and an industry-leading, 10-year limited warranty, the Cree® ZRHE LED troffer is the ideal replacement for healthcare, petroleum, commercial building and other applications demanding extreme reliability and long product lifetime.

The ZRHE LED troffer features Cree TrueWhite® Technology and delivers 4000 lumens of the industry’s best color quality in both 2’ x 2’ and 2’ x 4’ configurations. With 0-10V dimming capabilities standard, the ZRHE Series LED troffer can deliver even greater energy savings and help meet emerging energy codes for new and retrofit installations that require 24/7 operation.

ZR Series LED Troffer“The Cree ZRHE LED troffer pushes the limits of LED technology, redefining the standard for the commercial specification-grade market by delivering the breakthrough combination of energy savings, superior color quality and reduced maintenance costs,” said Norbert Hiller, Cree executive vice president, lighting. “Cree’s latest innovation delivers benefits customers have not had before and eliminates the need for compromised fluorescent alternatives.”

The Cree ZR High Efficacy LED troffer is available through distribution throughout the United States and Canada. Please visit www.cree.com/lighting/zrseries for more information.

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.

Please refer to www.cree.com/lighting for additional product and company information.

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 29, 2014, and subsequent filings.

Cree®, Cree TrueWhite® and TrueWhite® are registered trademarks of Cree, Inc.