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Broadens Industry Leading LED Street Light Portfolio with New High Output Options DURHAM, N.C. — Cree, Inc. (Nasdaq: CREE) is building on the industry’s most versatile LED street light portfolio with the LEDway® High Output (HO) LED street light. With its higher lumen output, the new LEDway HO LED street light enables the LEDway Series to address large multi-lane freeways and expressway applications, easily replacing inefficient High Pressure Sodium (HPS) lighting up to 400W from a single platform. The Cree® LEDway HO LED street light provides highly focused, directional light at nine adjustable lumen output levels, reducing energy consumption by more than 50 percent compared to outdated HPS street lights in most roadway applications. “As we’ve already seen with thousands of LEDway Series installations throughout North America and Europe, the Cree LEDway HO LED street light represents another example of why municipalities, Departments of Transportation and Investor Owned Utilities should move to proven Cree LED lighting over incumbent, inefficient technologies now,” said Greg Merritt, Cree vice president, marketing, lighting. “With virtually no maintenance and using significantly less energy than a 400W HPS, the LEDway HO LED street light dramatically lowers customers’ total cost of ownership. And when you include our 10-year limited warranty, the already compelling case for Cree LED lighting gets even better.” Designed for multi-lane freeways, expressways and roadways, Cree’s LEDway HO LED street light is enabled with NanoOptic® Precision Delivery Grid™ optic technology to deliver better optical control and more uniform, white light than HPS. And with the LEDway HO LED street light’s adjustable lumen output option, customers can use one type of fixture to meet the lighting and energy needs for a variety of applications. The Cree LEDway High Output LED street light is sold through Cree lighting sales channels throughout the U.S. and Canada. Please visit www.cree.com/lighting/ledwayseries to learn more. About CreeCree is leading the LED lighting revolution and making energy-wasting traditional lighting technologies obsolete through the use of energy-efficient, mercury-free LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting and semiconductor products for power and radio-frequency (RF) applications.Cree's product families include LED fixtures and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. Cree® products are driving improvements in applications such as general illumination, electronic signs and signals, power supplies and solar inverters.For additional product and company information, please refer to www.cree.com/lighting.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 will vary from expectations; the risk that 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 LED 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 30, 2013, and subsequent filings. Cree®, LEDway® and NanoOptic® are registered trademarks, and Precision Delivery Grid™ is a trademark of Cree, Inc.