Overstock Results Presentation Deck

Blockchain Meets Capital Markets to tZERO overstock.com tZERO is Medici's largest blockchain commitment and an 80% owned subsidiary tZERO is a financial technology company focused on the development and commercialization of financial applications of blockchain technologies tZERO is currently involved in the following: Non-Blockchain tZERO owns two registered broker dealers - Speed Route and PRO Securities Speed Route is an electronic, agency-only, FINRA-registered broker dealer that provides connectivity for its customers to U.S. equity exchanges as well as off-exchange sources of liquidity such as dark pools. All of SpeedRoute's customers are registered broker dealers ■ ■ ■ ■ ■ The PRO Securities ATS operates an overnight trading sessions known as the Blue Ocean Division Recent and Planned Advisory Services tZERO recently purchased 65.8% of the membership units of a registered investment advisor firm, now known as tZERO Advisors ■ ■ ■ ■ PRO Securities is a FINRA-registered broker dealer that owns and operates the PRO Securities ATS, which is regulated by the SEC (1) An ATS is a trading system not regulated as an exchange, but is a licensed venue for matching buy and sell orders tZERO Advisors is offering automated investment advisory services through our website's FinanceHub tZERO recently purchased 81% of VerifyInvestor, LLC, a leading accreditation processing firm tZERO Advisors intends to offer advisory services to companies considering or pursuing security token offerings Blockchain Based Digital Locate Receipts tZERO has developed software - referred to as DLR software - intended to help broker dealer licensees with stock inventory to both load and manage inventory in order to assist short sellers of public securities I DLR software is currently in customer testing by StockCross and has not yet been commercially licensed to any broker dealers Security Token Trading System In 2016 tZERO developed a suite of trading software for use on the registered alternative trading system ("ATS") operated by its subsidiary PRO Securities ■ ■ In December 2016 Overstock completed the first public issuance of a Blockchain security traded under OSTKP, utilizing the PRO Securities ATS tZERO intends to leverage its experience to develop a new trading system (the "Token Trading System") that will be capable of trading tokens or coins issued by companies in security token offerings that are treated as securities for purposes of U.S. securities laws (1) As of the date of this presentation, tZERO is only in the preliminary stages of development of the Token Trading System. The Token Trading System may never be developed and, even if it is developed, may, for a variety of technological, legal and regulatory reasons, never become operational. 34

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