May 17, 2016

New Cree XSP HO Series Delivers Breakthrough 25 Percent Performance Increase, Enabling New Applications

DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE) extends its industry-leading street lighting portfolio, delivering more performance and efficiency breakthroughs with the next generation of its new Cree® XSP HO Series. Leveraging the innovations from the existing Cree XSP Series LED street light platform, the new XSP HO Series features an increased level of lumens and up to 25 percent more LPW over the standard XSP Series. Now available in new packages up to 18,523 lumens and 116 LPW, the new XSP HO Series is ideal for any roadway, enabling better light for new applications ranging from collector roads to highways.

The XSP HO series is an ideal replacement for outdated high-pressure sodium fixtures and provides increased value while displacing a range of incumbent technologies from 70W up to 250W. Additionally, the high-performing luminaires enable increased spacing between poles, helping utility planners address street lighting needs with fewer fixtures.

XSP High Output

“Now more than ever before, Cree’s street light portfolio serves as the better choice for traditional street and area lighting with improved performance that enables quicker  payback and better light experiences,” said David Elien, Cree senior vice president, lighting. “The leading performance of the XSP HO Series demonstrates Cree’s continued innovation and commitment to leveraging better LED technology to its fullest potential for the benefit of our customers.”

The XSP HO Series is designed to meet a wide array of challenging roadway and street lighting applications that range from low to high pedestrian conflict areas, making this series of street lights a one platform solution for cities, municipalities and Departments of Transportation (DOTs). NanoOptic® Precision Delivery Grid™ optic technology efficiently delivers light to the street, making communities appear more crisp and safer while the advancements translate to even greater energy and maintenance savings for a lower total cost of ownership.

Cree’s XSP Series platform recently helped the town of Somerville, TN reduce its average wattage per light from 400 to 100. “The cost of electricity for the street lights has been reduced by 69 percent and 75 percent across the board on the whole project,” said Bob Turner, Somerville city administrator. “We originally budgeted more than $100,000 a year for our lights, and now we budget $25,000. That’s $75,000 tax dollars saved in the general fund.”

The luminaires are easy to design, install and operate, as well as compatible with all standard ANSI photocells. The series provides long L70 lifetime of more than 100,000 hours and is smart-city ready, enabled by a standard NEMA 7-pin socket.  Available in color temperatures up to 5700K and a Color Rendering Index (CRI) of more than 70, the street lights are field adjustable and backed by Cree’s 10-year limited warranty.

The Cree XSP HO Series is available now and sold through Cree lighting sales channels throughout the U.S. Please visit http://lighting.cree.com/street/xsp-high-output-series to learn more.

About Cree
Cree is a market-leading innovator of lighting-class LEDs, lighting products and semiconductor products for power and radio frequency (RF) applications. Cree believes in better light experiences and is delivering new innovative LED technology that transforms the way people experience light through high-quality interior and exterior LED lighting solutions.

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® and NanoOptic® are registered trademarks, and Precision Delivery Grid is a trademark of Cree, Inc. 

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