#1BED BATH & BEYOND overstock Q3 2023 Earnings Call U#2Forward-Looking Statements The information presented herein may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements include all statements other than statements of historical fact, including forecasts of trends, market conditions, the impact of our national marketing campaign, and other factors that will impact our results of operations. You should not place undue reliance on any forward-looking statements, which speak only as of the date they were made. We undertake no obligation to update any forward-looking statements as a result of any new information, future developments, or otherwise. Forward-looking statements are inherently difficult to predict. Accordingly, actual results could differ materially for a variety of reasons, including but not limited to, macroeconomic changes, including higher inflation, higher interest rates, and difficulties we may have with our fulfillment partners, supply chain, access to products, shipping costs, competition, attraction/retention of employees, search engine optimization results, and/or payment processors. Other risks and uncertainties include, among others, negative economic consequences of global conflict, problems with our infrastructure, including cyber-attacks or data breaches affecting us, adverse tax, regulatory or legal developments, any restrictions on the use of "cookies" or other tracking technologies, any negative business impacts associated with our evolving business. practices including our use of the Bed Bath & Beyond brand and other intellectual property related to the brand, our corporate name change and stock listing transfer, our exit from non-home categories, any negative business impacts associated with shareholder activism, and whether our partnership with Pelion Venture Partners will be able to achieve its objectives. More information about factors that could potentially affect our financial results are included in our Form 10-K for the year ended December 31, 2022, which was filed with the SEC on February 24, 2023, our Form 10-Q for the quarter ended March 31, 2023, which was filed with the SEC on May 2, 2023, our Form 10-Q for the quarter ended June 30, 2023, which was filed with the SEC on July 31, 2023, and in our subsequent filings with the SEC. The Form 10-K, Form-10-Qs, and our subsequent filings with the SEC identify important factors that could cause our actual results to differ materially from those contained in or contemplated by our projections, estimates, and other forward-looking statements. BED BATH & Ooverstock BEYOND 2#3Agenda BED BATH& Ooverstock BEYOND 1. CEO Remarks 2. Business Update 3. Q3 2023 Financial Results 4. Summary and Q&A 3#4BED BATH& Oloverstock BEYOND CEO Remarks Stan#5Our Future as Beyond BED BATH& Ooverstock BEYOND BEYOND LO 5#6Actions Taken ■ Strategically launched single ecommerce website Leveraged mobile app for customer acquisition Rebranded loyalty program and offered free memberships Warmed up and sent emails to total contactable list BED BATH& Ooverstock BEYOND 9:41 BED BATH& BEYOND Q Search For Everything Home Categories Home 25% OFF Daily Deals app exclusive Furniture off limited time only Shop Patio & More 25% OFF* Lists all Expires 62 hr 31 min Cannot be combined with other sales and coupons. Activate Coupon % Coupons Rugs Decor 8 Account welcome rewards. 6#7Results Achieved August and September 2023 ■ ■ Acquired customers Year-over-year order growth 3x increase in Canada business BED BATH& Ooverstock BEYOND 7 TE CRIR 7#8Medici Ventures Portfolio Companies Identity Vital Chain FinClusive MINDS NETKI BED BATH& BEYOND Ooverstock Land Titling Banking & Currency 派立 MEDICI LAND GOVERNANCE bitt spera ripio PEERNOVA Capital Markets tZERO CHAINSTONE LABS Supply Chain GRATIAIN INVENIAM Proprietary+Confidential Voting ✔Voatz Votem SettleMint 8#9BED BATH& BEYOND overstock Business Update FS1500 9#10Strategic Brand Building Timeline 3Q 2023 August September Analyze Bed Bath & Beyond data and post launch results. Formulate strategies for launching brand campaign. 25% app-exclusive coupon Welcome Rewards+ $25 bonus BED BATH& BEYOND 4Q 2023 October Initial email outreach to former BB&B customers Oloverstock Legend: Successfully completed November Launch Bed Bath & Beyond gift card pre-holidays Promotional marketing campaign leading up to and during holidays Reinstated Welcome Rewards for former Bed Bath & Beyond members (valid for a year from launch) December Build and launch brand campaign Ongoing/ planned actions FY 2024 FY 2024 10#11Defining Customer Cohorts Active and/ or Re-activated Customer Legacy Overstock Overstock customer emails Overlapping with Bed Bath & Beyond email database Oloverstock BED BATH & Ooverstock BEYOND Legacy Bed Bath & Beyond New Customer Bed Bath & Beyond customer emails No overlap with Overstock email database BED BATH & BEYOND TAM New Net new customer email since launch No overlap with Overstock or Bed Bath & Beyond database Furniture & Home Furnishings Total Addressable Market >$440 Billion ¹ 1 Insider Intelligence/eMarketer June 2023 estimate of total 2023 U.S. Furniture & Home Furnishings market size 11#12Customer Cohort Performance Post Launch Order share (% of total orders) Aug 1-Sept 30, 2023 66% Legacy OSTK Décor Bed Furniture ex. Patio Top 4 categories (Over 10% of order mix) Rugs 23% BED BATH& BEYOND TAM New Décor Furniture ex. Patio Bed Rugs 10% Legacy BB&B overstock Bed Décor Kitchen Furniture ex. Patio Legacy OSTK 1.0x 1.0x 1.0x Average unit retail Aug 1 - Sept 30, 2023 TAM New Category AUR¹ variance Furniture ex. Patio 1.0x Bed and Bath³ 1.1x Kitchen 1.3x Legacy BB&B 1 AUR: Average unit retail before discount/promotions 2 Contribution margin = Gross profit less advertising and marketing expenses 3 Average of Bed and Bath categories 0.9x 0.9x 0.8x Legacy OSTK ■ Contribution margin%² Aug 1 - Sept 30, 2023 ■ TAM New Legacy BB&B Customer acquisition strategies influencing profitability Heritage OSTK customers still the most profitable group ~90% of business accretive to contribution margin 12#13BED BATH& BEYOND overstock Q3 2023 Financial Results 13#14Q3 2023 Financial Results Revenue $373.3 Million -19% vs. Q3'22 Adjusted EBITDA Margin¹ -6.4% -962 bps vs. Q3'22 BED BATH& BEYOND Ooverstock Gross Margin 18.7% -461 bps vs. Q3'22 Diluted EPS -$1.39 Adjusted Diluted EPS² -$0.61 -$0.74 vs. Q3'22 G&A and Tech % of Revenue 14.3% +380 bps vs. Q3'22 Ending Cash $325.4 Million -5% / -$17.5M vs. Q2'23 $291.2 Million Net Cash Position 3 Note: All figures represent results from continuing operations. 1 Adjusted EBITDA Margin is a non-GAAP financial measure. See reconciliation in appendix. 2 Includes adjustment related to estimated tax impact from equity method activity. See reconciliation in appendix. 3 Cash less long-term debt 14#15Revenue Revenue ($M) $800 $700 $600 $500 $400 $300 $200 $100 $0 $341 Q3 '19 BED BATH & BEYOND $718 Q3 '20 $689 $460 Q3'22 $405 -19% $381 Q4 '22 Q1 '23 Q3 '21 overstock Note: All figures represent results from continuing operations. $422 Q2 '23 $373 Q3 '23 Q3'23 Dynamics ■ Revenue of $373.3M - -19% /-$87M vs. Q3'22 - ▪ Revenue influenced by: AOV -21% vs. Q3'22 - Bed Bath & Beyond acquisition Macro & consumer sentiment - 15#16Gross Margin Gross Margin ($M) $225 $200 $175 $150 $125 $100 $75 $50 $25 $0 20.0% $68 Q3 '19 BED BATH & BEYOND 23.5% $169 Q3 '20 22.7% $157 Q3 '21 Ooverstock 23.3% $107 22.1% $90 23.5% $90 Q1 '23 Q4 '22 Q3 '22 Note: All figures represent results from continuing operations. 22.4% $94 Q2 '23 Gross Margin (%) 18.7% $70 Q3 '23 25% 20% 15% 10% 5% 0% Q3'23 Dynamics ▪ Gross margin of 18.7% -461 bps vs. Q3'22 ▪ Gross margin influenced by: Higher discounting 16#17G&A and Tech Expense G&A and Tech Expense ($M) $80 $70 $60 $50 $40 $30 $20 $10 $0 14.1% $48 Q3 '19 BED BATH & BEYOND $59 8.2% Q3 '20 $52 7.6% Q3 '21 Ooverstock $48 10.5% Q3 '22 $47 11.5% $51 13.4% Q4 '22 Note: All figures represent results from continuing operations. Q1 '23 $49 11.7% Q2 '23 G&A and Tech Exp. as% of Revenue $53 14.3% Q3 '23 20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% Q3'23 Dynamics ▪ G&A and Tech Expense of $53M ■ +10.5% vs. Q3'22 G&A and Tech Expense % of revenue of 14.3% +380bps vs. Q3'22 17#18Adjusted EBITDA Adjusted EBITDA ($M) $60 $50 $40 $30 $20 $10 $0 ($10) ($20) ($30) (1.4%) ($5) Q3 '19 BED BATH & BEYOND 6.4% $46 Q3 '20 5.2% $36 Q3 '21 3.2% $15 Q3 '22 1.6% $7 Q4 '22 0.9% $3 Q1 '23 overstock Note: All figures represent results from continuing operations. Adjusted EBITDA Margin (%) 2.0% $8 (6.4%) Q2 '23 ($24) Q3 '23 6% 4% 2% 0% (2%) (4%) (6%) (8%) Q3'23 Dynamics ■ ■ Adj. EBITDA of -$24M -$39M vs. Q3'22 Adj. EBITDA margin of -6.4% - -962 bps vs. Q3'22 -50% driven by Gross Margin 18#19Active Customers and Order Frequency Order per Active Customer (LTM) Active Customers (LTM) (M) 12 10 8 6 2 0 1.76 5.4 Q3 '19 BED BATH & BEYOND 1.63 8.2 Q3 '20 1.68 8.7 1.62 Ooverstock 5.8 1.60 5.2 1.57 4.8 1.56 1.48 Home only 4.6 4.9 2.0 1.5 1.0 0.5 0.0 Q3'23 Dynamics ▪ Active customers of 4.9M -15% / -0.9M vs. Q3'22 Bed Bath & Beyond acquisition Macro / consumer sentiment ▪ Order frequency of 1.48 - -9% vs. Q3'22 Bed Bath & Beyond acquisition Q3 '21 Q3'22 Q4 '22 Q1 '23 Q2 '23 Q3 '23 Note: Orders per active customer represents the number of orders delivered over a twelve-month period divided by the number of active customers for that same period. 19#20Orders Delivered (LTM) (M) 25 20 15 10 LO 5 Orders and Average Order Value 0 $167 9.6 Q3 '19 BED BATH& BEYOND $173 13.4 Q3 '20 $214 14.5 Q3 '21 overstock $243 9.4 $215 8.2 $220 7.5 $234 7.2 Average Order Value ($) $192 7.3 $250 $200 $150 $100 $50 $0 Q3'23 Dynamics ▪ Orders delivered (LTM) of 7.3M -22% / -2.1M vs. Q3'22 Q4 '22 Q1 '23 Q2 '23 Q3 '23 Q3 '22 Note: LTM orders delivered represents the total number of orders delivered during the prior twelve-month period. Note: Average order value represents net revenue divided by orders delivered, measured on a quarterly basis. - Average order value of $192 - -21% vs. Q3'22 Bed Bath & Beyond acquisition - 20#21BED BATH& Oloverstock BEYOND Summary and Q&A A#22Questions? BED BATH& Ooverstock BEYOND To ask questions: ▪ Access registration link on IR website ■ Send an email to [email protected] 22#23Thank you. BED BATH & BEYOND overstock 23#24BED BATH& Ooverstock BEYOND Appendix 24#25Adjusted EBITDA Reconciliation Net income (loss) Depreciation and amortization Stock-based compensation Interest (income) expense, net Other (income) expense, net Provision (benefit) for income taxes Special items (see table below) Adjusted EBITDA Special items: Brand integration and related costs Restructuring costs Special legal charges and other Total Special items BED BATH& Ooverstock BEYOND Sep-2019 Sep-2020 $ (13,448) $ 37,904 6,212 5,310 3,821 1,568 (321) 264 183 (59) 160 753 288 46,028 (1,221) $ (4,614) 288 (1,221) $ (1,221) $ 288 $ $ Sep-2021 30,426 4,383 2,542 139 79 (1,795) 305 36,079 253 52 305 $ $ Three months ended Sep-2022 (36,995) $ 4,130 4,056 (976) 46,283 (2,653) 923 14,768 $ 878 45 923 $ Dec-2022 (15,511) $ 4,226 4,928 (1,999) 15,447 (584) 6,507 $ $ Mar-2023 (10,307) $ 5,985 5,795 (2,559) 7,389 (2,887) 3,416 $ Jun-2023 (73,493) $ 4,516 6,270 (3,059) 80,673 (8,370) 1,697 8,234 $ 1,086 $ 611 1,697 $ Sep-2023 (63,049) 4,320 5,798 (3,201) 38,731 (13,411) 6,881 (23,931) 5,248 1,633 6,881 Note: All figures represent results from continuing operations, in thousands. Adjusted EBITDA is a non-GAAP financial measure used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. Review our financial statements and publicly-filed reports in their entirety and do not rely on any single financial measure. 25#26Adjusted Diluted EPS Reconciliation in thousands, except per share data Numerator: Net loss attributable to common stockholders Denominator: Weighted average shares of common stock outstanding-diluted Net loss per share of common stock: Diluted BED BATH& BEYOND Ooverstock Diluted EPS (63,049) 45,225 (1.39) Three months ended September 30, 2023 Less: equity method income/(loss) ¹ (35,563) 45,225 Adjusted Diluted (0.78) $ Note: All figures represent results from continuing operations, in thousands, except per share data. 1 Inclusive of estimated tax impact. EPS (27,486) 45,225 (0.61) 26