New Essentia by Cree LED Surface Wrap Delivers Market-Leading Efficacy and Exceptional Light Quality

DURHAM, N.C. — Cree, Inc. (Nasdaq: CREE) expands the Essentia® by Cree product portfolio with the new LED Surface Wrap.  The new product delivers best-in-class efficacy at 115 lumens per watt (LPW) and expands the Essentia by Cree portfolio, which provides customers with exceptional light quality and one-vendor convenience across entire lighting projects.

“The new Essentia® by Cree LED Surface Wrap is ideal for diverse commercial applications where customers are replacing traditional fluorescent fixtures in hallways, utility rooms and low ceiling areas,” said David Elien, Cree senior vice president, lighting. “It sets a new industry standard for utilitarian luminaires with exceptional light quality, aesthetics, and performance.”

Traditional surface wrap fixtures with 2-foot and 4-foot fluorescent tubes are ubiquitous in both institutional and residential buildings, casting harsh, buzzing illumination that is familiar in corridors, stairwells and work areas. The Essentia by Cree LED Surface Wrap provides clean white light with a low-profile and attractive arc lens design that mounts easily on ceilings or walls.  The product comes standard with 0-10V dimming to five percent and is available with an emergency backup option.  A field-installed occupancy sensor is also available to further enhance energy savings.

The Essentia by Cree LED Wrap’s category-leading performance meets the DLC® 3.1 Premium certification standard and qualifies for rebate incentives that can dramatically improve customer payback. The new wrap also meets California Title 24 and other stringent electrical codes requiring dimming control and emergency backup.

Engineered to provide outstanding performance for new construction and renovation applications, the Essentia by Cree lighting portfolio comes with a five-year limited warranty. The Essentia by Cree LED Wrap is available now and sold through Cree lighting sales channels throughout Canada. Please visit www.creecanada.com/products/interior/surface-ambient/essentia-by-cree-led-surface-wrap/ to learn more.

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 26, 2016, and subsequent filings.

Please refer to www.cree.com/canada for additional product and Company information.

Cree® and Essentia® are registered trademarks of Cree, Inc.  DLC® is a registered service mark of Northeast Energy Efficiency Partnerships, Inc.