January 28, 2016

Cree’s IG and KR Product Series Now Available to Ship

Breakthrough WaveMax Technology Delivers Better Light for Commercial Environments
DURHAM, NC -- The IG Series parking garage luminaires and KR Series LED downlights by Cree, Inc. (Nasdaq: CREE) are now available to ship in volume. Both series feature cutting-edge Cree® WaveMax Technology, an optical platform with a revolutionary combination of control, uniformity and efficiency to deliver a superior visual experience in new form factors that are intelligent in both design and function.

Cree’s LED lighting with WaveMax Technology is already transforming commercial spaces with better light. The IG Series lighting addresses challenges particular to parking garages. It provides unmatched low-glare comfort and decreased LED source luminance to cast rich illumination that maximizes detail and defeats shadows. The series delivers exceptional energy efficiency and fast payback.

“Cree continues to prove that long-lasting LED technology can do infinitely more than save energy and maintenance costs – it's the smarter choice for our bottom line, tenants and buyers experiences," said Steve Maranos, vice president of technology, CMC Group, Inc. "With Cree's IG Series luminaire, we're rethinking what lighting can do. It is unlike any solution on the market - delivering the modern design, controllability and low-glare illumination with performance that exceeds our expectations for any parking application, all while delivering significant ongoing savings at an affordable price."

Florida International University (FIU) in Miami recently installed Cree’s KR Series LED downlights to upgrade its Graham Center Ballroom, their premier event space.IG Series

Cree’s new KR8 downlight brought uniform light distribution and efficiency to the FIU event space. FIU upgraded its event space lighting from halogen-lamped recessed downlights that produced hotspots and poor light distribution, compounded by the 18 foot mounting height.

“Events at the FIU Graham Center Ballroom range from large student orientation sessions to social and dining events,” said Sanyo Mathew, senior director of Graham Center at FIU. “Cree’s LED technology delivers a better lighting experience that is more uniform than our previous downlights. We’re also benefiting from superior, continuous dimming, which is very important to providing the right amount of light for the various types of meetings hosted at the center.”

Both the IG Series parking garage luminaire and the KR Series LED downlight are now available to order. Please visit lighting.cree.com/ig-series and lighting.cree.com/kr-series for additional information or please contact a Cree lighting representative for more details.

About Cree, Inc.:

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.

Cree® is a registered trademark, and WaveMax, and KR8 are trademarks of Cree, Inc.