Cree Launches Market-Leading KBL LED High-Bay Series

New portfolio engineered for superior performance and maximum savings in applications from retail to industrial manufacturing

Cree, Inc. (Nasdaq: CREE) announces the KBL LED High-Bay Series, the perfect solution for industrial, retail, civic and athletic venues with dramatically reduced glare for a safer, more productive work environment. The new high-bay is a standout performer in both efficacy and quality, engineered to deliver maximum savings and industrial-strength performance with up to 150 lumens per watt (LPW) and a payback as fast as 1.5 years.

“Cree’s new KBL LED High-Bay Series is the ideal solution for the high-bay market and delivers an average of 2,000 lumens more than the nearest competitor,” said David Elien, Cree senior vice president, lighting. “With best-in-class lumen maintenance in applications up to 50C ambient, the KBL Series offers unprecedented reliability for the rigors of retail, industrial manufacturing and warehouse applications.”

The KBL Series is available in 18,000 and 24,000 nominal lumen output options with correlated color temperatures (CCTs) between 3000K and 5000K, and is virtually maintenance free with zero warm-up or restrike time. The new series offers increased productivity and safety by minimizing work stoppages and maintenance to replace lamps and ballasts, and is eligible for DLC® Premium Certification to advance corporate sustainability goals.

The new Cree® KBL LED High-Bay Series is available to order now and sold through Cree lighting sales channels throughout the United States and Canada. Please visit http://lighting.cree.com/kbl-series to learn more.

About Cree, Inc.

Cree is a market-leading innovator of lighting-class LEDs, lighting products and Wolfspeed™ 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 25, 2017, and subsequent filings.

Cree® is a registered trademark of Cree, Inc. DLC® is a registered trademark of Northeast Energy Efficiency Partnerships, Inc.

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Cree, Inc.Claire SimmonsCorporate [e-mail]