Cree, Inc. (Nasdaq: CREE) delivers another industry first with a barrier-breaking 276 lumen-per-watt white R&D power LED. This significant milestone exceeds Cree’s previous R&D industry record of 254 lumens per watt and demonstrates Cree’s continued commitment to innovate and accelerate the adoption of LED lighting.

Cree’s innovative SC³ Technology™ Platform, available today in Cree XLamp® LEDs, enables this record-breaking R&D result. The SC³ Technology Platform features advancements in LED chip architecture and phosphor and boasts a new package design to deliver the most advanced LED components in the industry.

Cree reports that the LED efficacy was measured at 276 lumens per watt, at a correlated color temperature of 4401 K and 350 mA.

“The core of the Cree R&D culture is a relentless focus on innovation that ultimately drives LED adoption,” said John Edmond, Cree co-founder and director of advanced optoelectronics. “The innovation from our labs is the foundation for our lighting-class XLamp LEDs. Higher performance LEDs can enable new and better LED-based applications and drive down the solution cost of LED designs.”

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. To learn more about the LED Lighting Revolution, please visit www.creeledrevolution.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 we may be unable to develop and release commercial products with performance comparable to the development results described above; 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, 2012, and subsequent filings.

Cree® and XLamp® are registered trademarks, and SC³ Technology™ is a trademark of Cree, Inc.