Cree Sets the Mood for Architects, Lighting Designers with Stylish FLEX Series LED Specification Troffer

Cree, Inc. (NASDAQ: CREE) announces the FLEX Series LED Troffer, a new lighting system that gives architects and lighting specifiers remarkable design freedom, to address the $1.2 billion specification tier of the industry. This represents an enormous opportunity for a switch to energy-efficient LEDs, as recessed fluorescent troffers comprise 50 percent of all luminaires used in the U.S. commercial market, according to the Department of Energy.

The FLEX Series LED Specification troffer combines aesthetic appeal, design flexibility and premium performance into a slim luminaire design that fits virtually any ceiling type. With five customizable inner-optic choices, architects and designers can create distinctive environments across diverse applications – from corporate offices to hospitals, schools and retail – with just one fixture to spec. Featuring standard one percent 0-10V dimming and optional SmartCast^® Technology for intelligent lighting control, illumination levels are easily adjusted to adapt to changing conditions.

"What makes the FLEX Series unique is that it not only offers the industry-leading efficiency our customers have come to expect, but it was specifically designed to meet the needs of architects and lighting designers,” said Craig Atwater, Cree senior vice president and general manager, lighting. "From its high-quality light and designer dimming and control, to its extensive lumen packages and inner optic choices, every detail was designed to promote creativity and ease of specification.”

The FLEX Series adds style and energy efficiency even in the most challenging designer applications. Higher lumen packages can be mounted up to 20 feet and offer up to 6,000 lumens of superior, low-glare illumination, ideal for more light-intensive applications. By drastically reducing flicker, the FLEX Series troffer can minimize fatigue, headaches and stroboscopic hazards, and help increase productivity and improve video telepresence applications in the office and classroom. Add to this superior efficacy up to 145 LPW, and the FLEX Series boasts DLC^® Premium status, qualifying for the largest rebates and driving fast paybacks nationwide.

The new Cree^® FLEX Series troffer is available to order now and is sold through Cree lighting sales channels throughout the United States and Canada. Please visit https://lighting.cree.com/FLEX to learn more.

About Cree

Cree is an innovator of Wolfspeed^® power and radio frequency (RF) semiconductors, lighting class LEDs and lighting products. Cree’s Wolfspeed^® product families include SiC materials, power-switching devices and RF devices targeted for applications such as electric vehicles, fast charging inverters, power supplies, telecom and military and aerospace. 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 specialty lighting applications. Cree’s LED lighting systems and lamps serve indoor and outdoor applications.

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

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 24, 2018, and subsequent filings.

Cree^®, SmartCast^®, and Wolfspeed^® are registered trademarks of Cree, Inc. DLC^® is a registered trademark of Efficiency Forward, Inc.

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