September 20, 2012

Cree Extends Leadership with Introduction of Brighter, More Efficient XLamp® XP-E2 LEDs

Doubles the Lumens-Per-Dollar and Delivers Up To 20 Percent More Lumens Per Watt Over Original XP-E LED
DURHAM, NC --

Cree, Inc. (Nasdaq: CREE) introduces the new XLamp® XP-E2 LED, delivering higher lumens per watt and lumens-per-dollar to lower system costs for existing XP-E and XP-G designs. The new XP-E2 LEDs can increase the lumen output of XP-E designs for the same cost and power or lower system cost with fewer LEDs – enabling lighting manufacturers to deliver a better lighting system with minimal redesign.

“The price to performance ratio is an important consideration for our design process,” said Erik Milz, vice president of marketing, Terralux. “Since many of our products are based on Cree® XP-E LEDs, the new XP-E2 LED is a significant upgrade in performance, helping to keep design costs down and speeding time-to-market for our solutions.”

The XP-E2 LEDs use the same XP footprint (3.45mm x 3.45mm) and are optically compatible with all XP LED designs, including the popular XP-E and XP-G LEDs. The XP-E2 LEDs also enable a broad range of high-lumen applications, from indoor and outdoor lighting to portable and lamp retrofits.

The latest Cree offering to be built on the revolutionary SC3 Technology™ next generation LED platform, the XP-E2 LEDs deliver up to 128 lumens per watt at 350 mA, 85°C or 143 lumens per watt at 350mA, 25°C in cool white (6000K). The SC3 Technology next generation LED platform is built with Cree’s advanced silicon carbide technology, features advancements in LED chip architecture and phosphor and showcases a new package design to deliver the most advanced lighting-class LED components in the industry.

Luminaire makers seeking ENERGY STAR® qualification will have access to specification and performance data, including LM-80 reports, which can speed time-to-market. XP-E2 LEDs are a “successor” product to the original XP-E LED for LM-80 data – accelerating qualification of luminaires using just 3000 hours of LM-80 data, instead of the normal 6000 hours.

Cree XLamp XP-E2 LED samples are available now and production quantities are available with standard lead times. XP-E2 LEDs are available in 2700K to 7000K color temperatures with minimum CRI options of 70, 80, 85 and 90. To learn more, please visit www.cree.com/accelerate.

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.

For additional product and company information, please refer to www.cree.com. To learn more about the LED Lighting Revolution, please visit www.creeledrevolution.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 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 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 24, 2012, and subsequent filings.

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