Overstock Results Presentation Deck

Annual Gross Margin and Contribution Margin* 20.0% 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% 17.0% 11.2% 2011 18.1% loverstock.com 12.6% 2012 Gross margin 19.0% 12.1% 2013 18.6% 11.5% 2014 Contribution margin * Non-GAAP: Contribution margin = Gross profit less Sales & Marketing expense plus Club O Rewards and Gift Card breakage as a percentage of revenue. 18.4% 11.2% 2015 8

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