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% 11.9% Q2-14 Q3-14 loverstock.com Q4-14 Q1-15 Gross margin 19.0% 12.1% Q2-15 Q3-15 Contribution margin Q4-15 Q1-16 * Non-GAAP: Contribution margin = Gross profit less Sales & Marketing expense plus Club O Rewards and Gift Card breakage as a percentage of revenue. 18.2% 11.2% Q2-16 7

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