#1Oloverstock. Q2 2020 Earnings Call#2Forward-Looking Statements The information presented herein may contain forward-looking statements. Such forward-looking statements include all statements other than statements of historical fact, including forecasts of trends. 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, the effects of the novel coronavirus (COVID-19) on market volatility, the world economy, government regulation, and our supply chain, including supply and demand for the products and services we offer and the ability of our third-party partners and carriers to provide products and services without interruption. Actual results could also differ materially for reasons, including, but not limited to initiatives to improve or maintain the performance of our business, adverse tax, regulatory or legal developments, competition, and any inability to maintain profitability, continue to generate positive cash flow from operations, raise capital, or borrow funds on acceptable terms, difficulties we may have with our infrastructure, our fulfillment partners or our payment processors, including cyber-attacks or data breaches affecting us or any of them, and difficulties we may experience with increasing or maintaining our search engine optimization results or converting web traffic to sales. Other risks and uncertainties include, among others, the inherent risks associated with the businesses that Medici Ventures and tZERO are pursuing, including the effect of COVID-19 on capital markets, trading volatility, investor confidence and willingness to invest in blockchain technologies, whether tZERO's initiatives with Box Digital Markets, LLC and tZERO Markets, LLC will be able to achieve their objectives and the timing for doing such, and the regulatory, technical, operational and other obstacles tZERO faces in each of its initiatives. More information about factors that could potentially affect our financial results are included in our Form 10-K for the year ended December 31, 2019, which was filed with the Securities and Exchange Commission on March 13, 2020, in our Form 10-Q for the quarter ended March 31, 2020, which was filed with Securities and Exchange Commission on May 7, 2020, and in our subsequent filings with the Securities and Exchange Commission. The Form 10-K, Form 10-Q, and our subsequent filings with the Securities and Exchange Commission 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. overstock. 2#3Agenda 1. CEO Remarks 2. Financial Results 3. Business Updates a. Overstock Retail b. tZERO c. Medici Ventures 4. Summary and Q&A overstock. 3#4Addition to our Board of Directors William Nettles Independent Director overstock. - Appointed June 2020 Strong addition to our Board - Co-founder and managing partner of Invictus Growth Partners, a private equity firm based in San Francisco that invests in and advises automation-enabled tech companies. - 25 years of experience in technology, strategy and corporate development, general management, and investor relations. Previously with Verifone, Lycos, Sungevity, and Credit Suisse - overstock. Board of Directors 4#5General Services Administration (GSA) Award ■ Overstock Retail awarded GSA contract: Commercial platform for five initial government agencies' micro purchases (<$10K) Overstock Retail was selected as one of three contracted vendors - Three-year, proof-of-concept pilot Early August estimated go-live - - Overall opportunity: Initial micro purchases TAM represents $6B in annual spend - Leverages our partner model, supply chain, and technology infrastructure - Ability to expand B2B offerings - overstock. 5#6COVID-19 Update ■ Overstock Retail model optimally positioned Q2 retail sales +100% YoY Our core home furnishings products are increasingly in demand - Online-only platform remains accessible Our drop-ship model is well suited to current environment - - We continue to operate well Efficiently working "remote-first" - Opportunity to attract technology and analytics talent in the market - Challenges faced are showing marked improvement Customer care, fulfillment, and inventory levels starting to recover overstock. 6#7Corporate Update ■ Filed S-3 - - Reflects regaining WKSI status and re-establishes shelf Filed ATM prospectus supplement Have not used ATM in 2020 - Distribution of digital dividend - OSTKO Worth open market price and pays annual cash dividend Won Delaware Supreme Court appeal Reversal of $8.6M judgment against Overstock No regulatory updates - overstock. 7#8overstock. Financial Results 8#9Overstock Corporate Structure overstock. overstock Retail TM Overstock.com, Inc. tZERO A MEDICI VENTURES 9#10Q2 2020 Financial Results: Overstock.com, Inc. Revenue $782.5 Million +109% vs. Q2'19 Adjusted EBITDA ² $41.8 Million +$54.9M/+418% vs. Q2'19 1 Excludes $7.3M in favorable special items in Q2 2020. 2 Adjusted EBITDA is a non-GAAP financial measure. loverstock. See Reconciliation in Appendix Gross Profit $179.9 Million +143% vs. Q2'19 Diluted EPS $0.84 +$1.53 vs. Q2'19 G&A % of Revenue ¹ 4.4% -413bps vs. Q2'19 Ending Cash $318.6 Million +$177.3M vs. Q1'20 10#11Q2 2020 Financial Results: Overstock Retail Revenue $767.0 Million +109% vs. Q2'19 OpEx as % of Revenue ¹ 17.2% -496bps vs. Q2'19 1 Excludes $7.3M in favorable special items in Q2 2020. 2 Adjusted EBITDA is a non-GAAP financial measure. loverstock. See Reconciliation in Appendix Gross Margin 23.2% +347bps vs. Q2'19 Adjusted EBITDA² $53.0 Million +$51.4M vs. Q2'19 Dynamics ■ Business model scaled >200% new customer growth YoY ▪ Gross margin expanded Structural improvements coupled with one-time favorability ▪ Created operating leverage Scalability inherent in pure play e-commerce model ▪ Delivered profitability Consistent margin profile I with current sales trends 11#12Retail Revenue: +109% YoY Revenue ($M) $800 $700 $600 $500 $400 $300 $200 $100 $- H $367 (23%) Q2 '19 overstock. $341 (22%) Q3 '19 $364 (19%) Q4 '19 $340 (6%) Q1 '20 YOY Revenue $767 109% Q2 '20 A 120% 100% 80% 60% 40% 20% (20%) H (40%) Dynamics ▪ Revenue of $767M +$400M YOY +109% YoY ■ New customer growth >200% YoY 12#13Retail Gross Margin: +347bps YoY Gross Profit ($M) $225 $200 $175 $150 $125 $100 $75 $50 $25 $- H 19.7% $72 Q2 '19 overstock. 20.0% $68 Q3 '19 20.7% $75 Q4 '19 21.9% $74 Q1 '20 Gross Margin (%) 23.2% $178 Q2 '20 25% 20% 15% 10% 5% Dynamics ▪ Gross margin of 23.2% +347bps YoY ■ Gross margin impacted by operational efficiencies and one-time items Customer care understaffed as organization adjusted to sales growth SLA-related fulfillment charges to protect customer experience Reduced discounting influenced by inventory levels 13#14Retail OpEx as % of Revenue: -496bps YoY Operating Expense ($M) $140 $120 $100 $80 $60 $40 $20 $- $82 22.2% Q2 '19 overstock. Operating expense Operating expense as % of revenue $78 22.8% Q3 '19 $88 24.1% Q4 '19 $83 Operating Expense % of Revenue (%) 24.4% Q1 '20 $132 17.2% 1 16.3% Q2 '20 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 1 Excluding $7.3M in favorable special items in Q2 2020, Retail operating expense was $132M, or 17.2% of revenue (-496bps YOY); including these items, reported Retail operating expense was $125M, or 16.3% of revenue. Dynamics OpEx¹ + $51M (or +62%) Yo Y vs. net revenue growth of 109% ■ ■ OpEx as % of revenue ¹ declined 496bps YoY 14#15Retail Adjusted EBITDA: +$51M YoY Adj. EBITDA ($M) $60 $50 $40 $30 $20 $10 $- $(10) $(20) $1.6 0.4% Q2 '19 $(0.6) (0.2%) Q3 '19 $(2.2) loverstock. See Reconciliation in Appendix (0.6%) Q4 '19 Retail Adjusted EBITDA is a non-GAAP financial measure. $(1.9) (0.5%) Q1 '20 Adj. EBITDA Margin (%) 8% $53.0 6.9% Q2 '20 6% 4% 2% (2%) Dynamics ■ ■ ■ ■ Retail Adj EBITDA of $53M +$51M YOY Adj EBITDA margin of 6.9% +650bps YoY Record revenue Gross profit impacted by one-time items 15#16overstock. Business Updates 16#17overstock. Oloverstock. Retail TM 1 PA#18Top 5 Brand in a Growing Market Top U.S. Home Furnishings Online Brands 1,2 (ranked by online revenue) 1. Amazon 2. Wayfair 3. Walmart 4. Target 5. Ooverstock. overstock. 40% 30% 20% 10% 0% 6% 2010 Furniture & Home Furnishings U.S. Online Penetration 3,4 7% 2011 8% 2012 9% 2013 11% 2014 13% 2015 16% 2016 18% 2017 20% 2018 23% 36% 2019 June 2020 (est.) 1 Source: Statista 2019 publication of Jumpshot 2018 online furniture sales. 2 Source: Overstock market sizing of public and third-party data with category definition including mattresses, outdoor furniture & décor, small appliances & electronics, furniture storage & organization products, kitchen & bath products, decorative lighting & lamps, and home accessories & décor items. 3 Source: Combined data from eMarketer, NRF, and NPD. 4 Estimate based on combined data from NPD US eCommerce estimates and Signifyd Weekly Global Home Goods eCommerce estimates; and Overstock internal sales data. 18#19Our Unique Market Position Dream Homes for All: The space of 'Smart Value' where quality & style costs less Price overstock. Home Goods Expertise. Oloverstock. amazon Walmart target Source: Based on LRW/Overstock Annual Brand Tracker, 2019. wayfair Department Store Generalist Style & Inspiration 19#20Gaining New, Loyal Customers +205% YoY new customers growth; mirroring our target customer segments - +16% YoY in new customer repeat purchase rate Q2 '19 overstock. New Customers Q3 '19 ....... Q2 20 Q2 '19 205% increase Q4 '19 Q1 '20 28-day New Customer Repeat Purchase Rate + 16% increase Q3 '19 Q4 '19 Q1 20 Q2 20 20#21Strong Foundation of Core Competencies ■ ■ ■ 49M monthly visits 1 We know our customers, what they want, and how to reach them mproved Customer Self Service Personalized Email Program Unique Club O Loyalty Program overstock. ■ ■ 20 years of technology We have built efficient and innovative technology Growing Machine Learning Achieving SEO Gains Dynamic Technology Stack 1 Average unique visits over the last 12 months ending June 30, 2020. scalable model Our business model is highly scalable ▪ Distinct Drop-Ship Model Efficient Distribution Network Meaningful Assortment of -8M Products ■ Recent GSA Award ■ 21#22Focused Retail Strategy aspiration & positioning dream homes for all making beautiful & comfortable homes accesible by helping customers easily & confidently find just what financial goals target customers brand pillars constitutional principles. overstock. sustainable, profitable growth primary segment savvy shopper values Overstock for helping them feel smart about finding a great deal from a compelling selection of stylish & quality home products product findability get inspired anywhere, but easily find it at Overstock world-class SEO enablers I smart value quality & style for less as an indicator that our innovation is meeting target customers' needs engaging email program OKR-driven focus & collaboration world-class ML & algorithm innovation initiatives ■ secondary segment reluctant refresher values Overstock for helping them easily & confidently find just what they want easy delivery + support fast, free, & predictable delivery, plus low-hassle returns & support rewarding Club O Loyalty program intuitive mobile experience partner-sponsored marketing discounting & pricing experience increase real-time data 22#23Playing to Our Strengths overstock. Savvy Shoppers overstock. Reluctant Refreshers $120B Market1,2 Higher propensity to shop at Overstock ▪ Deal driven and low hassle ▪ Combined market spend is 40% of total market² 1 Source: eMarketer-Total US Retail Sales estimates, 2019. 2 Source: Overstock customer segmentation research, 2019. Note: $300B Total Market Size x 40% Customer Segments Market Size = $120B Market. 23#242020 Initiatives product find ability ▪ Enhance mobile web experience ▪ Refine machine learning model for better site search relevancy Improve new product content. ■ overstock. ■ smart value Clarify promotional price messaging Expand marketing allowance ▪ Transform promotional model ▪ Further reduce logistics costs ■ easy delivery + support Optimize machine learning delivery models ▪ Position inventory for fastest delivery ▪ Improve customer support self-service experience Launch "free shipping on everything" initiative in response to COVID-19 24#25product findability ▪ Customers shifting to mobile: Mobile purchases 51% of total sales +149% YoY in unique visits in Q2 +148% YoY in sales in Q2 overstock. 80% 60% 40% 20% 0% ㅏ Q4'18 Q1'19 Sales % by Device Q2'19 Q3'19 Q4'29 Q1'20 -Mobile Desktop Q2'20 1 Note: Sales reflects GMS (gross merchandise sales), calculated as the amount paid by customers for products (and shipping), measured at the time of order, before coupons and discounts, without reductions for estimated returns. 25#26product findability ▪ Home furnishings demand increasing Customers are finding what they need ▪ Home furnishings were 92.5% of Q2 sales ■ 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% H 85.6% Q1 '19 Sales Mix of Home Furnishings 86.7% Q1 '20 88.6% Q2 '19 92.5% Q2 '20 1 loverstock. Noupons and discounts, without reductions for estis merchandise volume), is calculated as the amount paid by customers for products (and shipping), measured at the time of order, after returns. 26#27product findability 18 months of continued keyword ranking - Focusing on relevant, high-volume keywords Organic search visits at historical high ▪ More customers are finding and buying. from us than ever before ■ 7 overstock. Jul-18 1 Source: SEMrush for keyword rankings, Adobe Analytics for organic search visits. Organic Search Visits / Top 3 Keyword Rankings¹ Organic Search Visits Top 3 Keyword Rankings Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 27#28smart value Free shipping is a top purchase driver; launched it on all items in response to COVID-19 Savvy shoppers drawn to low prices ■ Our customers are recognizing us for both smart value differentiators ■ I overstock. Customer Rating of Shipping Charges¹ Home & Garden Competitors 11% favorable Overstock 1 Source: Bizrate point of sale survey, Q2 2020. 2 Source: Overstock Brand Experience research among top competitive retailers' shoppers over last 12 months, June 2020. Promotional Competitiveness² Home Furnishings Retailer Avg. 6% favorable Overstock 28#29easy delivery + support ■ ■ Delivery speed and on-time accuracy key driver of customer satisfaction Capacity constraints caused a slowdown in shipping Concerted effort to adjust stated delivery times to meet customer expectations overstock. 1/12/20 H 1/5/20 Note: % orders delivered on-time or early refers to small parcels only. 2/12/20 2/5/20 Click to Delivery (business days) 3/12/20 4/12/20 3/5/20 % Orders Delivered On-Time or Early + 5/12/20 4/5/20 5/5/20 6/12/20 6/5/20 29#30easy delivery + support ■ Contact volume as a percentage of orders decreased 37% YoY Continued tech automation and self- service enhancements improve customer satisfaction and reduce costs overstock. III Q3 '19 Q2 '19 CS Contacts as % of Orders Q2 '19 Q4 '19 Q3 '19 Self Service Cases as % of Total 4.2x increase Q1 '20 Q4 '19 Q1 '20 37% decrease Q2 '20 Q2 '20 30#31Well Positioned for Growth in 2020 and Beyond Revenue growth outpacing industry Driven by technology, customer focus, and business model ▪ Maintain normalized gross profit margins Expenses growing slower than revenue, driving operating leverage Adjusted EBITDA margins in the mid-single digits Free cash flow positive overstock. dream homes for all Driving sustainable, profitable growth 31#32Identity *Vital Chain evernym FinClusive MINDS NETKI overstock. A Land Titling MEDICI LAND GOVERNANCE MEDICI VENTURES Banking & Currency bitt spera rípio PEERNOVA Capital Markets ‒‒‒‒‒ tZERO ‒‒‒‒‒‒‒ symbiont Supply Chain GRAIN CHAIN Vinsent FACTOM™ Voting Voatz Votem SettleMint A 32 MEDICI VENTURES#33loverstock. tZERO 33#34Leading the Digital Security Space We accounted for 95% of all security token volume ¹ o Our digital securities represent 81% of all security token value² Named 'Best Blockchain Solution of the Year' by FTF News overstock. 1 According to Cointelegraph & Security Token Group, in May 2020. 2 According to STOMarket.com as of July 13, 2020. COINTELEGRAPH The future of money SAMUEL HAIG News Markets Magazine People Cryptopedia Industry Consulting ✓ Video XRP BTC ETH BCH $9,717 $243 $0.20 $253 -0.08% +0.26% -0.30% +0.05% LTC $46.13 -0.09% 7184 Total views 35 Total shares EOS $2.75 -0.69% Overstock's 'Digital Dividend' Dominates Security Token Rankings Less than three months after its 'digital dividend' airdrop, Overstock's OSTKO is dominating the security token rankings for both market cap and volume. ENGLISH ADVERTISE CAREERS JUN 08, 2020 Listen to article 2:20 34 tZERO#35Record tZERO ATS Token Volume, +77% YTD 118K 79K السالسا loverstock. 169K January February 99K March 111 116 April OSTKO 423 80K May 55K 90K June -126K July 2019 2020 Note: January 2019 only had 5 trading days on ATS. OSTKO was distributed on May 19, 2020. 110K 107K 116K August September October November December 35 tZERO#36Record Crypto App User Growth, +100% YTD 585 Jun 19 +607 overstock. 1,192 Jul 19 +681 1,873 Aug 19 +707 2,580 Sep 19 +805 3,385 Oct 19 3,967 +535 +582 Nov 19 4,502 Dec 19 +755 5,257 Jan 20 +655 6,327 5,912 +415 Feb 20 Mar 20 +931 7,258 Apr 20 8,316 +1,058 May 20 +677 8,993 Jun 20 36 tZERO#37Recent Wins 1. Signed agreement with Aspen Digital to trade the St. Regis Aspen token 2. Subscribed two new broker-dealers 3. Total revenue of $23M in the first-half of 2020 already exceeded total 2019 revenue 4. Successful distribution of OSTKO 5. Record volume and user growth on the tZERO ATS and Crypto App 6. Named 'Best Blockchain Solution of the Year' by FTF News overstock. 37 tZERO#38Product Roadmap Assets 1. Trade the St. Regis Aspen Token 2. Tokenize Existing Cap Tables 3. Tokenize New Offerings overstock. Liquidity 1. tZERO Markets 2. Integrate More Broker-Dealers 3. 24/7 Order Entry 4. Develop a Multi-Clearing Solution Experience 1. Streamline Markets Onboarding 2. UX for Trading All Digital Assets 38 tZERO#39Identity *Vital Chain evernym FinClusive MINDS NETKI overstock. A Land Titling MEDICI LAND GOVERNANCE MEDICI VENTURES Banking & Currency bitt spera rípio PEERNOVA Capital Markets tZERO symbiont Supply Chain GRAIN CHAIN Vinsent FACTOM™ Voting ✔Voatz Votem SettleMint ‒‒‒‒‒‒‒‒‒‒‒‒ A 39 MEDICI VENTURES#40Voatz Resources Blog Journalists overstock. CISION PR Newswire News in Focus 1 Source: PR Newswire. 2 Source: NASS.org. News Products Contact Business & Money Science & Tech Lifestyle & Health Policy & Public Interest NEWS PROVIDED BY Voatz → Jul 21, 2020, 10:25 ET Safe & Secure Mobile Voting ▪ Became first remote voting platform verified as compliant with federal voting system guidelines¹ Voatz Mobile Voting Platform Verified as Compliant with Federal Voting System Guidelines by Independent Testing Lab Successfully conducted recent elections for Arizona and South Dakota state conventions ¹ Log In Published a white paper for the 2020 NASS summer conference, calling for standards setting² Sign Up People & Culture. BOSTON, July 21, 2020 /PRNewswire/ -- Voatz, a leading mobile voting platform, meets the applicable re U.S. voting systems, according to Pro V&V, an independent, federally-certified Voting System Test Labora Data Privacy Pro V&V recently completed comprehensive testing of the Voatz Remote Accessible Ballot Delivery, Mar Return (RABDMR) System. SHARE THIS ARTICI in Send a Release Search Q Letter Report To: Linda Hutchinson - Voatz, Inc. From: Wendy Owens - Pro V&V, Inc. CC: Date: Michael Walker - Pro V&V, Inc. July 16, 2020 Subject: Voatz Remote Accessible Ballot Delivery, Marking and Return (RABDMR) System Dear Ms. Hutchinson: PRO V&V Pro V&V is providing this letter to report the results of the evaluation of the Voatz Remote Accessible Ballot Delivery, Marking and Return (RABDMR) System to the applicable requirements in the U.S. Election Assistance Commission (EAC) 2015 Voluntary Voting System Guidelines (VVSG), Version 1.1 and the manufacturer-stated requirements set forth in the system documentation. The scope of the evaluation incorporated a sufficient spectrum of functional tests to verify that the RABDMR features and applications conform to the defined requirements. The evaluation was conducted in two phases. Phase 1 consisted of a Usability and Accessibility Review. Phase 2 consisted of the following: 1) Verify that the RABDMR performs as documented in the provided system technical documentation, 2) Evaluate the RABDMR System as it relates to voter experience and transmission of the voter's selection to the jurisdiction, 3) Execute system use cases to evaluate system functionality, 4) Source Code Review, 5) Physical Configuration Audit (PCA), 6) Functional Configuration Audit (FCA), 7) System Integration Testing, including Accuracy Testing and Regression Testing, 8) Security Testing, and 9) Telecommunications Testing. All tests were performed to the VVSG 1.1 standards with the exception of the Accuracy Test, which was conducted on an abbreviated scale. Based on the results obtained during the test campaign, Pro V&V determined the RABDMR, as presented for evaluation, meets the applicable requirements set forth for voting systems in the U.S. Election Assistance Commission (EAC) 2015 Voluntary Voting System Guidelines (VVSG), Version 1.1, with clarifications or exceptions noted in Section 4.0 of the final version of Pro V&V Test Report TR v. 01-02-VTZ-001-02. Should you require additional information or would like to discuss this matter further, please contact me at 256-713-1111. Sincerely, Wendy Owens Wendy Owens VSTL Program Manager [email protected] 40 MEDICI VENTURES#41SettleMint Blockchain Project Active services Besu JSON mjek-patumizzančicindon Hom/pub/s JSON WS Grop Netstats DETALS IPFS AM Outeway DETAILS Q 1 Source: Everest Group, May 8, 2020. 2 Source: EU Startups.com. 3 Source: Crypto Events.global. D SMART CONTRACTS D SettleMint T Desberd SETTINGS 8 Machines Miscellans Contracts k&Fool DOCUMENTATION B ARGS 9 lpp On 259,070 9,007,199,254,740,991 n Blockchain Project Project id freel-golfo Infrastructure Details Type gan DEDICATED GKE EUROPE MEDUM Terms of Service Privacy policy SettleMint Infrastructure A Services O Marketplace Cluster usage 40 68% All good 80 Blockchain-based Business Solutions ■ Named by Everest Group in its Top 14 Start-Ups in Low-Code Platforms report for being a trailblazer for rapid application development¹ ■ Selected by EU Startups as one of 10 Most Promising Blockchain Companies to Watch² ▪ T-Block Accelerator announced the onboarding of Settle Mint to support blockchain startups³ ▪ Launched a 14-day free trial of its blockchain platform as a service offering to enable customers a low barrier entry into blockchain projects overstock. Account Billing DELETE 8 SettloMint 41 A MEDICI VENTURES#42overstock. Summary and Q&A 42#43Summary and Q&A - Focused Execution. Overstock Retail Sustainable, profitable growth ▪ Relentless focus on initiatives. Retail Adjusted EBITDA: +$51M YOY Adj. EBITDA (SM) $50 $40 $30 $20 $10 $- $(10) $(20) $1.6 0.4% Q2'19 overstock. $(0.6) (0.2%) Q3'19 $(2.2) loverstock. (0.6%) Q4 '19 Retail Adjusted EBITDA is a non-GAAP financial measure. See Reconciliation in Appendix $(1.9 (0.5%) Q1 20 Adj. EBITDA Margin (%) 8% $53.0 6.9% Q2 20 (2%) Dynamics Retail Adj EBITDA of $53M +$51M YOY • Adj EBITDA margin of 6.9% +650bps YoY Record revenue Gross profit impacted by one-time items tZERO ■ Driving adoption Onboarding tokens & investors Recent Wins 1. Signed agreement with Aspen Digital to trade the St. Regis Aspen token 2. Subscribed two new broker-dealers 3. Total revenue of $23M in the first-half of 2020 already exceeded total 2019 revenue 4. Successful distribution of OSTKO 5. Record volume and user growth on the tZERO ATS and Crypto App 6. Named 'Best Blockchain Solution of the Year' by FTF News overstock. tZERO Medici Ventures ▪ Products in production. Seeking third-party investors I Identity Vital Chain evernym FinClusive MINDS INETKI overstock. A MEDICI VENTURES Land Titling ZIN MEDICI LAND GOVERNANCE Banking & Currency bitt spera rípio PEERNOVA Capital Markets tZERO symbiont Supply Chain CRAMAN Vinsent FACTOM Voting ✔Voatz Votem SettleMint MEDICI VENTURES To ask questions: Dial-in: (877) 673-5346 -or- Email: [email protected] Conference ID: 9798319 43#44overstock. Appendix#45Adjusted EBITDA Reconciliation overstock. Net loss Depreciation and amortization Stock-based compensation Interest income, net Other (income) expense, net Provision (benefit) for income taxes Special items (see table below) Adjusted EBITDA Segment Adjusted EBITDA Retail tZERO MVI Other Adjusted EBITDA Special items: Special legal charges (1) Severance Im pairments on intangible assets Total Special Items $ $ $ $ $ Jun-2020 34,381 7,548 2,465 (26) 4,171 517 (7,272) 41,784 53,011 (7,052) (2,085) (2,090) 41,784 $ (19,565) 7,569 3,268 (72) (6,683) 176 (1,103) $ (16,410) $ Mar-2020 (1,865) $ (8,250) (2,498) (3,797) $ (16,410) $ (7,272) $ (7,272) $ (2,501) 1,398 $ Three months ended (1,103) $ Dec-2019 $ (18,959) $ (29,660) 7,998 4,606 (262) (1,547) (94) (2,194) $ (10,628) (2,695) (3,442) (18,959) $ Sep-2019 $ (34,542) 7,518 4,467 (392) 4,781 23 185 (17,960) (575) (11,233) (2,691) (3,461) (17,960) $ (1,221) 1,406 185 $ Jun-2019 $ (27,626) 7,464 5,171 (525) 2,995 (622) (13,143) 1,581 (8,729) (2,586) (3,409) $ (13,143) 45 (1) Special legal charges include amounts associated with the resolution for and adjustments to various legal contingencies and legal fees associated with pursuing our strategic alternatives. 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. You should review our financial statements and publicly-filed reports in their entirety and not rely on any single financial measure.