Overstock Results Presentation Deck

Quarterly 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% 18.8% 12.0% Q1-14 Q2-14 loverstock.com Q3-14 Q4-14 Gross margin 18.9% 12.1% Q1-15 Q2-15 Contribution margin Q3-15 Q4-15 * Non-GAAP: Contribution margin = Gross profit less Sales & Marketing expense plus Club O Rewards and Gift Card breakage as a percentage of revenue. 18.7% 12.1% Q1-16 7

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