April 23, 2015

Cree Introduces New Fully Luminous LR22 Architectural Troffer

Features Innovative Design and Superior Performance for Better Commercial Light Experience
DURHAM, NC -- Cree, Inc. (Nasdaq: CREE) delivers a new level of illumination to the more than 867 million linear fixtures installed in the United States by introducing the new LR22™ LED troffer. A fully luminous, highly diffused architectural fixture, the new LR22 troffer incorporates a recessed flat panel design that creates an appealing and quiet aesthetic to seamlessly blend into any ceiling. Featuring Cree TrueWhite® Technology, the new LED troffers offer the perfect combination of even light distribution and low glare lighting for commercial applications looking for superior color quality and sustainable economics with increased energy efficiency and rapid payback*.

“As a design and furniture solution provider for inspired workspaces, Storr Office Environments is committed to ensuring our own space reflects the modern aesthetics that we offer our customers, while displaying our merchandise in their truest colors,” said Scott Bosman, general manager, Storr Office Environments. “The sophisticated flat panel design and uniform, low-glare illumination of Cree’s LR22™ troffers provides a first-rate experience, offering a perfect fit for our office space, all while supporting reduced energy expenses.”

“The LR22™ troffer demonstrates yet another way Cree is eliminating the need for compromised fluorescent lighting by delivering unrivaled lighting performance that makes upgrading to LED the obvious choice,” said Norbert Hiller, Cree executive vice president, lighting. “Offices, schools and hospitals will no longer be plagued by flickering, outdated fluorescents when luminaires like the LR22™ troffer can deliver better light experiences for end-users.”

Offered in both neutral and cool color temperatures of 3500K and 4000K, the LR22™ troffer delivers the industry’s best color quality in a 2-by-2-foot configuration with efficacy of 100 lumens per watt. The new troffer can deliver energy savings of up to 40 percent compared to fluorescent lighting and is backed by Cree’s 10 year industry-leading warranty. Featuring on-board 0-10V dimming capabilities, the new LR22™ troffer allows for increased design flexibility in addition to increased energy savings and reduced maintenance savings when utilizing continuous dimming or energy saving controls.

The Cree® LR22 LED troffer is sold through Cree lighting sales channels throughout the United States and Canada. Please visit www.cree.com/lighting/LR22 to learn more.

* Payback calculated against a fluorescent 3x17 watt troffer on 24/7 hours operating time and on 60.000 hours lifetime. The payback on a commercial usage of 11 hours, calculated on 10 years lifetime is of 3.5 years.

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.

Please refer to www.cree.com 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 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 new 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, and LR22™ is a trademark of Cree, Inc.