Cree Introduces Innovative New ZR-RK LED Troffer Retrofit Kit

Transition Outdated Fluorescent to Outstanding LED Technology in Four Minutes

DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE) announced today it has expanded its award-winning ZR Series LED troffer family by adding the new ZR-RK Retrofit Kit. Designed to deliver maximum improvement with minimum effort, the four-part design can be installed in only four minutes, upgrading outdated fluorescent lighting to premium Cree® LED performance in record time. For those lighting applications in which opening the ceiling plenum or removing old troffers is not an option, the ZR-RK Series provides unmatched ease of installation and an award-winning lighting experience quickly.

“Cree is committed to making it easier for customers to switch to superior LED lighting with the best solutions for each application,” said David Elien, Cree senior vice president and general manager, lighting. “The new ZR-RK Series LED Troffer Retrofit Kit easily transforms the tired optics and appearance of existing fluorescent troffers with the outstanding energy savings, better light and clean, crisp lines for which the ZR Series is known.”

The ZR-RK Series maximizes retrofit application savings with an upgrade to 132 lumens per watt (LPW) performance, and dramatically reduces energy and maintenance costs for savings of up to 70 percent over T8 fluorescent luminaires. With DesignLights Consortium® (DLC®) Premium 4.1 eligibility, the ZR-RK Retrofit Kit can also maximize rebates nationwide, lowering upfront costs by as much as 40 percent.

The ZR-RK Series offers modern optics and a matte finish, with 80 CRI and balanced illumination in a variety of lumen and color temperature packages. For projects requiring a mix of new fixtures and retrofits, the installed ZR-RK Retrofit Kit looks virtually indistinguishable from a new ZR Series troffer, offering a seamless visual experience across the entire facility or campus.

With the addition of the ZR-RK Retrofit Kit, the family of Cree® ZR Series troffers offers the right solution for every application need, including high efficiency, color quality, affordability and upgrade flexibility options. Visit Cree’s ZR Product Selector Tool to find the ZR Series troffer that is right for you.

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® is a registered trademark of Cree, Inc.  DesignLights Consortium® and DLC® are registered trademarks of Northeast Energy Efficiency Partnerships, Inc.