Cree Extends Groundbreaking IG Parking Luminaire Series

DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE) extends its industry-leading IG Series LED parking structure luminaires to include a warmer color temperature and standard 0-10V dimming for better light experiences with enhanced aesthetics and performance. The result is more choices that meet customer preference for warm, inviting light. Featuring Cree WaveMax™ Technology, the IG Series delivers low-glare comfort and defeats shadows for enhanced safety and visibility while delivering exceptional energy efficiency and fast payback.

“Parking structure operators are under constant pressure to lower operating costs while providing safe and visually appealing lighting,” said David Elien, Cree senior vice president and GM, commercial lighting. “With these new standard features, the high-performance IG™ LED parking structure luminaires not only outperform existing LED and metal halide solutions, but also offer a lower total cost of ownership while making a great first impression.”

The series offers enhanced performance and flexibility to meet code requirements with new, standard 0-10V dimming for Cree IG parking structure luminaires that do not include a factory installed sensor, enabling easy integration with advanced control systems to maximize energy savings. The increased functionality allows parking structure owners to seamlessly integrate wireless or wired control systems for daylight harvesting, remote monitoring and occupancy sensor capabilities further reducing energy usage for an even lower total cost of ownership.

Available in 3000K, 4000K and 5700K color temperatures, the highly efficient parking garage luminaires can deliver more than 80 percent energy savings and quick payback of less than two years compared to outdated metal halide lighting. Programmable motion controls further increase these savings and enable a simple way to customize settings for high or low occupancy applications.

The IG Series is backed by Cree’s industry-leading 10-year warranty and available through Cree lighting sales channels throughout the U.S. and Canada. Please visit http://lighting.cree.com/ig-series for more information.

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.

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.

Please refer to www.cree.com for additional product and Company information.

Cree® is a registered trademark of Cree, Inc.

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