Cree First to Offer a 10-Year Warranty on Intelligent Lighting Systems

Cree, Inc. (Nasdaq: CREE) continues its commitment to delivering better light with the introduction of the first 10-year warranty for intelligent lighting systems on all new Cree SmartCast® Technology luminaires with integrated sensors. Cree® SmartCast Technology is the most intuitive and easiest to install intelligent light solution on the market, delivering up to 70 percent energy savings for half the cost of other solutions and now backed by an industry leading, 10-year limited warranty.

“After millions of cumulative hours of accelerated lifetime testing, Cree is confident that it has proven the long-term reliability of its intelligent lighting products,” said David Elien, Cree senior vice president, lighting. “Cree stands alone in its commitment to supporting its SmartCast® Technology with a 10-year, limited warranty, enabling your employees to be more productive and your building to become a long-term intuitive asset.”

The new, industry leading, 10-year warranty covers all Cree commercial-grade SmartCast Technology troffers and suspended luminaires. It lowers the total cost of ownership and overall install costs for SmartCast Technology customers compared to control systems that require additional costs for extended warranties and are often limited to five-year terms.

Every luminaire in the SmartCast Technology portfolio uses OneButton™ Setup to commission up to an entire building with a single stroke, offering intelligence that is live within minutes. The result is an enhanced experience that enables personalized, task-specific environments that adapt to users in each space for increased productivity. It even applies what it learns to drive energy costs lower for continual operational improvement. SmartCast Technology reduces design time, wires and setup time often associated with traditional controls systems. The system provides smart lighting that meets existing and emerging building codes and operates wirelessly or over Power over Ethernet to deliver better light now and into the future.

Cree SmartCast Technology is sold through Cree lighting sales channels throughout the United States and Canada. Please visit www.cree.com/smartcast to learn more.

About Cree, Inc.:

Cree is a market-leading innovator of lighting-class LEDs, lighting products and semiconductor products for power and radio frequency (RF) applications. Cree believes in better light experiences and is delivering new innovative LED technology that transforms the way people experience light through high-quality, interior and exterior LED lighting solutions.

Cree’s product families include LED lighting systems and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. Cree’s products are driving improvements in applications such as general illumination, electronic signs and signals, power supplies and inverters.

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 28, 2015, and subsequent filings.

Cree® and SmartCast® are registered trademarks and OneButton™ is a trademark of Cree, Inc.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160721005174/en/