D. Hunt RamsbottomPresident & CEO

Rentech, Inc.

2006 Gasification Technologies Conference

October 2, 2006JW Marriott HotelWashington, DC

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Safe Harbor StatementStatements made in this presentation regarding Rentech, Inc. (“Rentech” or the “Company”) and the information incorporated by reference into this release that are not historical factual statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. It is intended that such forward-looking statements be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. This section is included for purposes of complying with those safe harbor provisions. The forward-looking statements include, among other things, statements regarding the intent, belief or expectations of Rentech and its officers and can be identified by the use of terminology such as “may,” “will,” “expect,” “believe,” “intend,”“plan,” “estimate,” “anticipate,” “should” and other comparable terms or the negative of them. In addition, we, through our senior management, from time to time make forward-looking oral and written public statements concerning our expected future operations and other developments. You are cautioned that, while forward looking statements reflect our good faith belief and best judgment based upon current information, they are not guarantees of future performance and are subject to known and unknown risks and uncertainties. These risks and uncertainties could cause actual results to differ materially from expectations. Factors that could affect Rentech’s results include the availability of financing for the projects, the decision of others as to proceeding with the projects, the timing of various phases of the projects, and the entry into definitive agreements with others related to the projects and our Joint Venture. Any forward-looking statements, whether made in this report or elsewhere, should be considered in context with the risk factors discussed or incorporated by reference in this report and the various disclosures made by us about our businesses in our various public reports including but not limited to forms 10Q and 10K filed with the United States Securities and Exchange Commission which can be accessed through the Company website at http://www.rentechinc.com/secfilings.htm at no monetary charge.

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The Question

Bringing F-T Liquids to the U.S. Market – What is needed?

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The Answer

Bringing F-T Liquids to the U.S. Market – What is needed?

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1) Private Industry Leadership

2) A Sustained National Commitment

3) Federal And State Partnerships to

Help Jump-Start the Industry

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The Rentech Value Statement

Rentech offers energy independence solutions utilizing American resources

to economically produce ultra cleansynthetic fuels.

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Rentech offers energy independence solutions utilizing American resources to economically

produce ultra clean synthetic fuels.

►Leading CTL technology provider25 years of FT technology development19 U.S. patents, with others currently under review

►Proven operating experienceSix pilot plantsFully integrated CTL Product Development Unit in 2007

►CTL Leadership in North America Proven technologyStrong backlog of development projectsExperienced management

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Coal

FT Diesel

RentechCTL

Technology

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DomesticEnergyInitiative

MM Barrels/day Total

Contribution Required In 2030

Percent Contribution toTotal U.S. Liquid

Fuels Requirements

CTL 5.6 20Oil Shale 3.0 11EOR 2.8 10Biomass 4.5 16Transportation EnergyEfficiency 3.0 11

Total 18.9 68

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The Path to Energy Security and Independence

Source: Southern States Energy Board and Management Information Services, Inc. 2006

CTL is the largest potential contributor to filling the import gap at 5.6 million barrels per day by 2030

Rentech offers energy independence solutions utilizing American resources to economically

produce ultra clean synthetic fuels.

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U.S. Coal Supply Regions

► The U.S. has 265 billion tons of proven developed coal reserves

►This is equivalent to:

535 billion barrels of oil

Enough coal to support 1,500 FT plants producing 50,000 bpd

500 FT plants would meet current US. demand

►300 high paying American jobs per plant

Utilizing Rentech’s technology to convert just 5% of these reserves would double the known domestic oil reserves.

Rentech offers energy independence solutions utilizing American resources to economically

produce ultra clean synthetic fuels.

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Rentech offers energy independence solutions utilizing American resources to economically

produce ultra clean synthetic fuels.

Source: Company data, Bloomberg, Blue Johnson and Department of Energy website.(1) Estimate based on a 10,000 bbls/d facility. 2006 dollars(2) Estimate based on 1.35 diesel to crude oil historical price relationship.

Coal-Based FT Fuel($/barrel)

Production Costs

Feedstock

$35

$60

$80

$26

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100

Cash Cost ofFT Fuel/Bbl

Current Rack Priceof ULSF Diesel

Equiv. Cost ofCrude Oil

Current Crude OilPrice

(2)

(1)

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►High performanceHigher cetane index improves engine performance

►Existing infrastructureToday’s pipelinesToday’s engines

►Ultra high purity fuelSignificant emissions reductionExceeds global sulfur and aromatics requirements

►Storage stabilityLong shelf life (≥ 8 years)

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Rentech offers energy independence solutions utilizing American resources to economically

produce ultra clean synthetic fuels.

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► Environmental advantages

► Reduction in regulated emissions

► Ultra-low in sulfur

► FT fuel will command a premium value

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(1) HC = Hydrocarbon, CO = Carbon Monoxide, C02 = Carbon Dioxide, N0x = Nitrogen Oxide, PM = Particulate Matter. Data from U.S. Military testing.

FT Fuel Emissions Reductions (1) Relative to EPA Low Sulfur Diesel

(55%)

(13%)(4%)

(45%)

(62%)(52%)

(15%)(17%)

(60%)

(72%)

HC CO CO2 NOx PM

Cruise Idle

Rentech offers energy independence solutions utilizing American resources to economically

produce ultra clean synthetic fuels.

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Rentech’s Strategic Plan

1. Accelerate deployment of the Rentech Process

Conversion of Rentech Energy Midwest to jump-start CTL production

2. Develop strategic projects in the U.S.

Expand use of the Rentech Process at multiple sites

3. Develop a repeatable and scalable process

Up to 50,000 Bbls/d per plant

4. Maintain FT technology leadership

Continued innovation through research and development

5. Expand the reach of the Rentech Process

Licensing on selected basis

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Product Development Unit

Architect’s Rendering of the PDUCommerce City, Colorado

►Fully Integrated CTL ProductionAdvances Rentech capabilities 10 bpd of finished product

►Product TestingProduction made available to military and commercial users for testing and evaluation

►Research and Development Leadership

Optimizing FT reactorFeedstock analysisRefinement of scalable, repeatable plant designTraining of facility operators

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On-line: 2007

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►“Coal to Corn”Vast farming communities in Illinois and Iowa -all products consumed within 200 milesAbundant local coal supply

►On the Mississippi RiverMultiple transportation options - barge, truck and railNorthern-most ammonia facility on the Mississippi River

►Substantial existing operations and infrastructure

Large scale fertilizer plant ready for immediate conversionPermits, safety systems and experienced management team and staff in place

Rentech Energy MidwestEast Dubuque, Illinois

Rentech Energy Midwest

Rentech Energy Midwest will be the first US commercial-scale CTL plant.

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Rentech Energy Midwest Timeline►Phase 1 – Install Coal Gasification Unit with Spare and FT

Production UnitProduce syngas for manufacturing

• 920 tpd fertilizer: 1800 Bbl/d FT liquidsConocoPhillips: gasification system supplierContinue operation of fertilizer plant using natural gas during construction of gasification unitTurnkey EPC contract with guaranteesLong-term coal contractExpected cost $800 million

►Phase 2 – Add Second Gasification Train and Additional FT Production Capacity

Increase FT production to 6,800 Bbls/dExpected cost of $200 - $250 million

2007 2008 2009 2010 2011Phase 1

ConstructionStartup

Phase 2ConstructionStartup

Rentech Energy Midwest

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Proposed Strategic Fuels PlantNatchez, Mississippi

Natchez-Adams County Site

►Strategic LocationOn the Mississippi RiverNot subject to Gulf Coast weather patterns

►Easy AccessMultiple feedstock possibilities

Coals down Mississippi RiverPet Coke up from Gulf Coast

Central location to several product distribution channels

►Self Sufficient for Power NeedsNot on the power grid

►Ideal location for total CO2 sequestrationCO2 used for Enhanced Oil Recovery

►Federal, State, Local support for project

►Currently in feasibility study

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Rentech / PeabodyJoint Development Agreement

U.S. Coal Supply Regions

►Joint Development Agreement signed

►Develop ultra-clean fuels projects at or near Peabody mine mouths

►Initial project size 10,000 and 30,000 Bbl/d – scalable and repeatable

►Projects engineered to be carbon capture ready

►Phase I – scoping and feasibility in Montana and Illinois Basin – one-year process

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► Current and Potential Rentech Projects Estimate

75,000 – 100,000 B/bpdProjects operational between 2009-2012

► Rentech Licensed ProjectsDKRW Medicine Bow10,000 – 40,000 B/bpd

► Total Estimated Production Using Rentech Technology

Over 100,000 B/bpd in 2012Potential for over 150,000 B/bpd at build-out of current and projects under consideration

► Potential for Rapid Future DevelopmentRepeatable, scalable plant design

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Developing an FT Industry in the US

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A National Challenge

“America is at a crossroads. We either can choose to produce our own transportation fuels and secure our own destiny, or we can continue to rely on expensive foreign oil from unstable sources… Alternative energy production has to become the new standard for American energy production – it’s critical to our national security, necessary for economic development, and right for our environment.”

►Kentucky Governor Ernie Fletcher

Chair, Southern States Energy Board

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►Eliminating dependence on imported oil for transportation fuels by 2030 will:

Create 1.4 million new U.S. jobs

Reduce trade and budget deficits, with a trade deficit that is $600 billion less by 2030

Generate economic investment and growth, with up to $200 billion invested in energy sector

Increase national security

Help protect the environment

Foster new technology development20

Achieving U.S. Energy Independence

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Jump-Starting the Industry

The Next Steps:►Extend Fuel Excise Tax Credit to 2020►Long-term military fuel contracts►CO2 sequestration R&D and incentives

Federal Support: Creating a climate to launch CTL in US►EPACT 2005 was a strong start

Gasification Investment Tax CreditAuthorizing DOE Self-Pay Loan GuaranteesExtending 50-cent Fuel Excise Tax Credit

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►IllinoisInitial site identification and engineeringEconomic Incentives for utilizing Illinois coalThe Governor’s long-term Energy Independence Plan and incentive grantsProposed CO2 pipeline

►MississippiBond Authorization to support project Overwhelming local community support

Adams County Board of SupervisorsCity of Natchez

State Partnerships

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Specific Recommendations

Bringing F-T Liquids to the U.S. Market – What is needed?

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1) Private Industry Leadership

The Rentech Strategy

2) Sustained National Commitment to Energy Independence

SSEB Goal: 2030

3) Federal And State Support to Jump-Start the IndustryFederal: Fuel Excise Tax Credit, DOD contracts, CO2

State: Economic Development Cooperation and Assistance

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Rentech, Inc.10877 Wilshire Boulevard, Suite 710

Los Angeles, California 90024

Tel 310-571-9800Fax 310-571-9799

www.Rentechinc.comSymbol: RTK