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Cree Optimizes LED Technology for the Connected Lighting Future

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New XLamp XP-G3 S Line LED Combines Best-in-Class Reliability and
Efficacy

Cree, Inc. (NASDAQ:CREE) announces the XLamp® XP-G3 S Line
LED, an extension of the industry-leading XLamp XP-G3 LED that is
optimized for the connected lighting future. With the XP-G3 S Line, Cree
delivers high-power LED technology optimized for long-lifetime,
high-power general lighting applications where sensors and the internet
of things (IoT) are becoming common, such as commercial indoor, parking,
industrial and roadway.

Connected lighting systems use information from occupancy sensors and
other sources to continuously react to the target environment, dimming
or switching off unneeded lights to conserve energy. On average, a
connected lighting system will dim or switch off lights up to 10 times
more often than with a standard lighting system. These additional
dimming and switching cycles put more stress on the LED system and can
limit the luminaire's lifetime. Through innovations in component
architecture, the new XLamp XP-G3 S Line LED can withstand double the
number of switching cycles when compared to competing LEDs in its class.

The new XP-G3 S Line LED further improves the standard XP-G3 with better
reliability through switching and dimming cycles, improved resistance to
sulfur exposure and higher light output and efficacy. This more robust
version of the XP-G3 LED delivers excellent LED system reliability in
all lighting applications, including those with harsher environments.

"Our customers want LED solutions that are highly efficient, cost
effective and reliable enough to last in the harsh outdoor environments
of Brazil," said Mario Sergio Martins, co-owner, Genesis Devices &
Equipment (GDE). "With the new XP-G3 S Line LEDs, Cree is delivering a
solution that is quickly and easily implemented to improve the
performance and reliability for all my products, whether they include
IoT controls now or will be retrofitted later in the field."

"Cree's lighting-class LEDs enabled the lighting revolution and LED
lighting is now the industry standard. Looking forward, the lighting
market will require LEDs designed to withstand the rigors of connected
intelligent lighting," said Dave Emerson, Cree LEDs executive vice
president and general manager. "Cree's new S Line LEDs employ a unique
chip and package architecture that delivers the reliability and
performance to withstand harsh environments, repeated dimming and on/off
cycles."

The XP-G3 S Line LED provides an easy upgrade path for existing XP-based
LED systems, allowing manufacturers to quickly implement these LED
innovations into their designs. Product samples are available now and
production quantities are available with standard lead times. The XP-G3
S Line LED has LM-80 data available to enable luminaires to immediately
meet the requirements for DesignLights Consortium®
qualification. Please visit http://www.cree.com/led-components/products/xlamp-leds-discrete/xlamp-xp-g3
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
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 24, 2018, and subsequent
filings.

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

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