February 23, 2016

Cree Delivers Better Light with New PAR30 LED Bulb

DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE) announces the expansion of its award-winning LED bulb family with the introduction of the TW Series™ PAR30 Cree® LED Bulb, designed to deliver bright, high-quality and focused light exactly where you want it, making it the ideal choice in areas where directed or dramatic pools of light are desired. With the TW Series PAR30 Cree LED Bulb, family portraits, artwork, and decor will come to life in their truest forms beneath better light.

par30“We believe in better light,” said Betty Noonan, Cree chief marketing officer and general manager, consumer business. “Better light improves your environment and is essential to human perception, comfort and security. Why compromise? The TW Series™ PAR30 Cree LED Bulb ensures that the things that matter to you will be showcased the way they are meant to be seen.”

The TW Series PAR30 Cree® LED Bulb is engineered to deliver better lit spaces for homeowners, retailers and hospitality managers alike. ENERGY STAR® certified and available in 25° spot or 40° flood beam angles, the TW Series™ PAR30 Cree LED Bulb is ideal for accent lighting in track and recessed fixtures. In track lighting fixtures, the TW Series PAR30 Cree LED Bulb is an excellent choice for a focused light to feature artwork. In recessed fixtures, the TW Series PAR30 Cree LED Bulb creates dramatic pools of light beneath the fixture, perfect for use over a kitchen prep area or to highlight a space.

The TW Series PAR30 Cree® LED Bulb leverages Cree TrueWhite® Technology to deliver a beautiful, bright, warm-white (3000K) light with a color rendering index of 90 that makes colors of objects look the way they were intended – an essential quality for a product designed to highlight artwork and décor. Fully dimmable and designed to last more than 22 years* (25,000 hours), the TW Series™ PAR30 Cree LED Bulb is a worry-free choice, backed by a 100 percent performance satisfaction guarantee.

The TW Series Cree PAR30 LED Bulb will be available in short neck and long neck models at The Home Depot® in stores and online in March for $19.97.

Visit www.creebulb.com to learn more.

25,000 hour lifetime based on 3 hours use per day.

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, lighting products and semiconductor products for power and radio frequency (RF) applications.

Cree's product families include LED lighting systems and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. Cree's products are driving improvements in applications such as general illumination, electronic signs and signals, power supplies and 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 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 our new 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 28, 2015, and subsequent filings.

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Cree®, Cree TrueWhite® and TrueWhite® are registered trademarks and TW Series™ is a trademark of Cree, Inc.

The Home Depot® is a registered trademark of Homer TLC, Inc.

ENERGY STAR® is a registered trademark of the U.S. Environmental Protection Agency.