[April 30, 2015]

High-Quality Cree LED Lighting Transforms 42-Campus Toledo Public School District

As part of a system-wide effort to improve energy efficiency and campus experience, Toledo Public Schools (TPS) in Toledo, Ohio selected LED lighting by Cree, Inc. (Nasdaq: CREE) to illuminate the exterior of 42 of its school district campuses, delivering superior light quality and energy optimization while lowering the total cost of ownership compared to outdated metal halide and high pressure sodium alternatives they replace. The schools now feature Cree (News - Alert)® LED area, canopy and wall mount luminaires, saving one school alone an anticipated $355,000 in lifetime energy and maintenance costs for rapid payback while delivering optimized light levels for campus visibility.

"We knew that energy-efficient LED technology was the best lighting solution from the start and once we looked at the energy saving potential, payback time and maintenance savings - making the switch was clear," said Ron Miller, network operations and energy efficiency manager, TPS. "Only Cree offered the unmatched warranty, high-quality fixtures and breadth of product aesthetics to deliver the performance, value and lifetime operational efficiencies we sought for the system-wide upgrade. After one month, we've already begun to experience the benefits that Cree LED lighting provides."

TPS anticipates that the innovative new Cree LED lighting system will help reduce energy consumption by up to 69% percent and save up to $125,000 per school in lifetime maintenance costs alone, while improving light quality and exterior aesthetics. Designed to deliver unprecedented optical control, industry-leading Cree® OSQ Series LED area luminaires and CPY Series LED canopy luminaires deliver superior area illumination for parking lots and entrances, while Cree® Edge™ Series and XSP Series Wall Pack illuminate campus walkways and replace existing accent lighting. The crisp, white light of Cree's luminaries can create a safe atmosphere for students, administrators and visitors. As important, the Cree luminaires are backed by Cree's 10-year industry-leading limited warranty, providing investment protection.

"Toledo Public Schools' upgrade to Cree LED luminaires is more proof that replacing outdated, inefficient lighting with high-quality LED technology delivers real value with well-illuminated spaces that provide bottom line savings," said John Casadonte, vertical marketing manager, lighting, Cree. "Designed to provide unmatched performance, Cree LED lighting delivers better light experiences for all users."

Beyond implementing energy-efficient LED lighting, TPS officials translated the upgrade into a teachable moment for students by building an interactive energy dashboard providing real-time energy usage data. The program, which is being utilized within five schools, enables students to monitor energy usage in real time, learn how to optimize it and compete for the lowest energy usage.

With the successful Cree lighting implementation and positive feedback received, TPS is interested in exploring LED lighting for its schools' interior applications for even greater energy and maintenance savings as well.

"Funding is always an issue, but upgrading to LED lights is a clear decision. The numbers are what they are and it just makes sense," said Miller.

Please visit www.cree.com/lighting/ToledoPublicSchools to read the full case study and view images of the installation.

About Cree

Cree 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, backlighting, electronic signs and signals, power suppliers and solar 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 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 29, 2014, and subsequent filings.

Cree^® is a registered trademark and Cree Edge™ is a trademark of Cree, Inc.

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