Overstock Results Presentation Deck

Wayfair Comparison - Gross Margin 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 20.3% 18.7% Q1-16 20.1% 18.2% Q2-16 Overstock Gross Margin Non-GAAP Overstock Gross Margin = Gross profit divided by Total net revenue Wayfair Gross Margin = Gross profit less Customer service and merchant fees, divided by Total net revenue Source: Overstock and Wayfair 10-Ks and 10-Qs loverstock.com 19.5% 18.1% Q3-16 -Wayfair Gross Margin 20.5% 18.6% Q4-16 21

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