Overstock Results Presentation Deck

25.0% 20.0% 15.0% 10.0% 5.0% 0.0% -5.0% -10.0% -15.0% -20.0% overstock.com Overstock contribution margin Amazon contribution margin Amazon product contribution margin (excludes service sales) o Wayfair contribution margin 11.9% 9.5% -6.1% 12.9% 11.5% 5.5% -7.2% Q4-12 Q1-13 13.2% 12.6% 6.0% -7.6% Q2-13 12.2% 8 11.7% O 5.1% Contribution Margin vs. Amazon.com and Wayfair.com* -9.3% 10.7% 10.2% O 4.3% -8.5% Q3-13 Q4-13 12.7% 11.9% O -1.8% -9.8% Q1-14 13.5% 11.8% 0.2% -9.7% 11.8% 11.3% 0.5% -14.0% 10.3% Q2-14 Q3-14 Q4-14 *Overstock.com Contribution Margin = Gross profit less Sales & Marketing divided by Total net revenue. *Amazon.com Contribution Margin = Total net sales less Cost of Sales, Fulfillment, and Marketing divided by Total net sales. *Amazon.com Product Contribution Margin = Total product sales less Cost of Sales, Fulfillment, and Marketing divided by Total product sales. *Wayfair.com Contribution Margin = Gross profit less Sales & Marketing divided by Total net revenue. 8

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