June 12, 2018

Cree Revitalizes Bulb Line to Provide Consumers with Exceptional Light

Not all LED Bulbs are Equal: Reach for Cree’s Premium Bulbs at The Home Depot

DURHAM, N.C. – June 12, 2018 – Cree, Inc. (Nasdaq: CREE) has revamped its complete line of consumer LED bulbs, including more than 30 products ranging from A-Lamps and candelabras to reflectors and downlights. Developed with consumers preferences in mind, the upgraded line is engineered to work better and last longer, with light that delivers exceptional color quality. The launch comes in conjunction with The Home Depot’s recently redesigned bulb aisle that aims to help consumers easily navigate, understand and choose LED light bulbs.

“The new line of bulbs delivers the best value for consumers who are looking for long-lasting, true-to-color LED lighting that will enhance their home,” said Phil Primato, senior marketing manager of Cree. “We have simplified our packaging into an easy-to-understand white box that explains the value of exceptional lighting.”

Cree’s LED bulbs can improve the appearance of home décor, increase comfort and even affect mood. For homeowners looking to modernize their space through a remodel or gain more light in their home, it is as easy as changing the light bulbs. The entire line of these high-quality bulbs includes 90+ color-rendering index (CRI) light, making the hues in your home appear more vibrant, rich and natural. In addition, the bulbs offer full dimming capabilities and Cree’s industry-leading 10-year, 100 percent satisfaction guarantee. Designed to be in your home for decades, the bulbs exceed the ENERGY STAR® minimum lifetime for most products, up to 22 years or 25,000 hours for bulbs and up to 45 years or 50,000 hours for retrofit downlights.*

The new Cree® LED bulbs are showcased in The Home Depot® stores and are available online. Please visit www.creebulb.com to learn more.

* 22-year and 45-year lifetimes for ENERGY STAR® qualified LED lighting based on 3 hours use per day.

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 electronic signs and signals. Cree’s LED lighting systems and lamps serve indoor and outdoor applications.

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. ENERGY STAR® is a registered trademark of the U.S. Environmental Protection Agency.

The Home Depot® is a registered trademark of Homer TLC, Inc.

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