Overstock.com, Inc.

as of today, February 23, 2022, and may include forward-looking statements. Actual results could differ materially from such statements. Additional information about factors that could potentially impact our financial results is included in our Form 10-K for the year ended December 31, 2020, and our Form 10-Qs for the quarters ended March, June, and September 2021, and in our subsequent filings with the SEC. A slide presentation accompanying today's webcast has been posted to our investor relations website and is available to download. Please review the important forward-looking statements disclosure on slide two of today's presentation. During this call, we'll discuss certain non-cap financial measures. The slides accompanying this webcast and our filings with the SEC contain additional disclosures regarding these non-cap measures, including reconciliations of these measures to the most comparable cap measures. Finally, Instructions to ask questions during our Q&A session are also available in the slide presentation. With that, let me turn over the call to the first speaker for today, Jonathan.

Thank you, Levesque, and good morning, everyone. Overstock delivered its seventh consecutive quarter of profitability, right in line with our stated financial targets, or what we internally call our recipe card for the business. This was intentional. We managed our expenses, especially our competitive online marketing spend during a highly competitive quarter to achieve this outcome. Even with the highly competitive ad spend environment and other industry-wide challenges, we delivered on our largest cyber five period in the company's history. All year, we consistently illustrated our gained ability to provide smart value during key shopping events. I'm pleased with how the team managed to deliver profitability. During today's call, we'll follow the agenda on slide three. Next slide, please. This slide provides an overview of our operating and financial performance for the full year. 2021 was our second consecutive year of profitability and market share gains. We grew sales to nearly double our pre-pandemic run rate. Based on metrics we look at, which compare us to our top U.S. home furnishing online peers, Overstock added almost 50 basis points of market share in 2021. This is an encouraging result considering the almost 200 basis points of market share we added in 2020. We are proving we can adjust to, execute through, and take advantage of both positive and negative jolts to the market. I'm extremely proud of what this Overstock team has accomplished over the last two and a half years. We refocused our marketing efforts on a target base of customers who have a higher propensity to shop with us and who spend more and at a higher frequency. We have made it easier for our customers to find and purchase great home products from our site. Our customers can shop our large and growing assortment of quality home products at prices they desire. We've improved our delivery experience, focusing on both speed and accuracy. All this progress has been driven by successful execution against our three brand pillars, product findability, smart value, and easy delivery and support. I will provide an update on each of these brand pillars later. Next slide, please. As we sit here today, external forecasts project some moderation in the housing market. At the same time, external forecasts project that more home furniture and furnishing sales to be transmitted online. We believe our opportunity continues to lie in increasing Overstock's brand association with home to continue to deliver market share gains. Exiting non-home categories has been a key focus for us over the past few quarters. We remain on track to hit our goal of 100% home-focused assortment by Q3 of this year. Combining this home-focused strategy with our advantageous supply chain and agile business model positions us favorably for 2022 and beyond. We have many proof points that show our strategy is working and resonating with our customers. During the fourth quarter, we stacked up favorably versus our competitors on two key purchase considerations, pricing and free shipping. Our promotional model around key events continue to drive record results. Overstock's free shipping awareness expanded 1,000 basis points over the year. Our strategy to remove non-home SKUs is positively influencing our association with home, our repeat rate, and our average order value. We are attracting customers who spend more, repeat more frequently, and appreciate our

home expertise.