Cree Licenses GaN Power Patents to Nexperia

Cree, Inc. (NASDAQ: CREE) announces that it signed a non-exclusive, worldwide, royalty-bearing patent license agreement with Nexperia BV, a Dutch company. The agreement provides Nexperia access to Cree’s extensive gallium nitride (GaN) power device patent portfolio, which includes over 300 issued U.S. and foreign patents that describe inventive aspects of high electron mobility transistor (HEMT) and GaN Schottky diode devices. The portfolio addresses novel device structures, materials and processing improvements, and packaging technology. The patent license involves no transfer of technology.

"Cree was founded to develop novel compound semiconductor materials like GaN and SiC and to create devices that capitalize on their unique properties,” said John Palmour, Cree co-founder and CTO of Wolfspeed, a Cree company. "Cree’s decades of innovation are now yielding devices that enable market introductions of new power management and wireless systems. To help facilitate the growth of these new markets, Cree is licensing its GaN power device patents for GaN power-management systems.”

Information about Cree’s GaN power device license program may be found at www.cree.com/about-cree/licensing/licensing-programs or may be obtained by sending an email to licensing@cree.com.

About Cree, Inc.:

Cree is an innovator of Wolfspeed^™ power and radio frequency (RF) semiconductors, lighting class LEDs and lighting products. Cree’s product families include SiC materials, power-switching devices and RF devices targeted for applications such as electric vehicles, fast charging, invertors, power supplies, telecom and mil/aero. Cree’s LED product families include blue and green LED chips, high-brightness LEDs and lighting-class power LEDs targeted for indoor and outdoor lighting, video displays, transportation and electronic signs and signals. Cree’s LED lighting systems and lamps serve indoor and outdoor applications.

For additional product and Company information, please refer to www.cree.com.

Forward Looking Statements:

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 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 and Wolfspeed^™ is a trademark of Cree, Inc.

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