Cree Expands Award-Winning ZR Series LED Troffer Family

Enhanced Offering Addresses Broad Range of Application Needs

DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE) announced today it has expanded its award-winning ZR Series LED troffer family to include the new ZR-C Commercial troffer in addition to the industry-leading ZR-FD High Efficiency and updated ZR-T TrueWhite® products. The series will feature Cree SmartCast® Technology to provide advanced controls. With the expanded offering, Cree is making it easier for customers to select the right solution for every application need by providing multiple options for affordability, efficiency, color quality and controls.

"Cree is committed to giving our customers the right solutions," said David Elien, Cree senior vice president and general manager, lighting. "Expanding our ZR Series troffer portfolio to address the unique requirements of each application or project, whether it is superior color quality or maximum savings, ensures that our customers always have a high performance option backed by Cree."

The ZR-C Commercial line provides affordable performance with premium rebate eligibility, capturing maximum energy savings and rebates for the most competitive projects. The line boasts class-leading efficiency at 125 lumens per watt (LPW), making it up to 10 percent more efficient compared to other products.

For customers seeking enhanced energy savings, the ZR-FD High Efficiency troffer is the perfect solution. The line delivers premium performance with 130 lumens per watt and optional SmartCast Technology to reduce energy savings up to 70 percent. For applications requiring color accuracy, the ZR-T TrueWhite troffer delivers 90+ CRI, lifetime color consistency and an 11 percent boost in efficacy, from 90 to 100 LPW.

The ZR-C Series is the best combination of performance and affordability in the market and fulfills the promise of better light for every application. To find the troffer that is right for you, please visit ZR Product Selector Tool.

About Cree, Inc.
Cree is a market-leading innovator of lighting-class LEDs, lighting products and power and radio frequency (RF) semiconductors. 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.

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 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 26, 2016, and subsequent filings.

Cree®, SmartCast®, and TrueWhite® are registered trademarks of Cree, Inc.