X0306 4 2015-02-12 0 0000868725 RENTECH, INC. RTK 0001464694 Blackstone Holdings I L.P. C/O THE BLACKSTONE GROUP, 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001362495 GSO CAPITAL PARTNERS LP 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001464624 GSO Advisor Holdings L.L.C. C/O THE BLACKSTONE GROUP 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001481157 GSO Holdings I LLC C/O THE BLACKSTONE GROUP 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001464695 Blackstone Holdings I/II GP Inc C/O THE BLACKSTONE GROUP 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001393818 Blackstone Group L.P. 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001404071 Blackstone Group Management L.L.C. C/O THE BLACKSTONE GROUP 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001070844 SCHWARZMAN STEPHEN A C/O THE BLACKSTONE GROUP 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001394691 Goodman Bennett J C/O GSO CAPITAL PARTNERS LP 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001394690 Smith J Albert III C/O GSO CAPITAL PARTNERS LP 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 Call Right (Obligation to Sell) 2015-02-12 4 J 0 9885.3043 D 2015-02-12 Common Stock 4452839.77 9885.3043 I See Footnotes Call Right(Obligation to Buy) 2015-02-12 4 J 0 4452839.77 A 2015-02-12 Common Stock 4452839.77 4452839.77 I See Footnotes Call Right (Obligation to Sell) 2015-02-12 4 J 0 3840.2958 D 2015-02-12 Common Stock 1729862.97 3840.2958 I See Footnotes Call Right(Obligation to Buy) 2015-02-12 4 J 0 1729862.97 A 2015-02-12 Common Stock 1729862.97 1729862.97 I See Footnotes Call Right (Obligation to Sell) 2015-02-12 4 J 0 3843.1304 D 2015-02-12 Common Stock 1731139.82 3843.1304 I See Footnotes Call Right (Obligation to Buy) 2015-02-12 4 J 0 1731139.82 A 2015-02-12 Common Stock 1731139.82 1731139.82 I See Footnotes Call Right (Obligation to Sell) 2015-02-12 4 J 0 12991.4871 D 2015-02-12 Common Stock 5852021.22 12991.4871 I See Footnotes Call Right (Obligation to Buy) 2015-02-12 4 J 0 5852021.22 A 2015-02-12 Common Stock 5852021.22 5852021.22 I See Footnotes Call Right (Obligation to Sell) 2015-02-12 4 J 0 6666.6667 D 2015-02-12 Common Stock 3003003.02 6666.6667 I See Footnotes Call Right (Obligation to Buy) 2015-02-12 4 J 0 3003003.02 A 2015-02-12 Common Stock 3003003.02 3003003.02 I See Footnotes Call Right (Obligation to Sell) 2015-02-12 4 J 0 16121.7415 D 2015-02-12 Common Stock 7262045.72 16121.7415 I See Footnotes Call Right (Obligation to Buy) 2015-02-12 4 J 0 7262045.72 A 2015-02-12 Common Stock 7262045.72 7262045.72 I See Footnotes Call Right (Obligation to Sell) 2015-02-12 4 J 0 28751.3742 D 2015-02-12 Common Stock 12951069.46 28751.3742 I See Footnotes Put Right (Obligation to Buy) 2015-02-12 4 J 0 12951069.46 A 2015-02-12 Common Stock 12951069.46 12951069.46 I See Footnotes Call Right (Obligation to Sell) 2015-02-12 4 J 0 17900 D 2015-02-12 Common Stock 8063063.06 17900 I See Footnotes Put Right (Obligation to Buy) 2015-02-12 4 J 0 8063063.06 A 2015-02-12 Common Stock 8063063.06 8063063.06 I See Footnotes On April 9, 2014, the Issuer, GSO Capital Partners LP and the GSO Funds (as defined below) entered into a Subscription Agreement (the "Subscription Agreement") to purchase Series E Convertible Preferred Stock of the Issuer (the "Purchased Shares"). On February 12, 2015, in connection with the amendment of other transaction documents related to the Subscription Agreement, the above mentioned parties entered into Amendment No. 1 to the Subscription Agreement (the Subscription Agreement, as so amended, the "Amended Subscription Agreement"). Pursuant to Amendment No. 1, the Amended Subscription Agreement provides that, subject to certain conditions, at any time after February 12, 2015, in the Issuer's sole discretion, the Issuer has the right to purchase all, but not less than all, of the Purchased Shares from the purchasers. Upon exercise of its call right described in Footnote 1 above, the Issuer shall purchase the Purchased Shares in exchange for (a) $1,000 in cash per Purchased Share (as adjusted for any stock splits, stock dividends, recapitalizations or the like), plus any accrued and unpaid dividends thereon and (b) warrants exercisable for the number of shares of the Issuer's common stock ("Common Stock") equal to the number of shares of Common Stock into which such purchaser's Purchased Shares are then convertible ("Repurchase Warrants"). If issued, the Repurchase Warrants will have an exercise price equal to the conversion price of the Purchased Shares (the "Conversion Price"), which is $2.22 per share (subject to appropriate adjustment for stock splits, dividends, combinations, recapitalizations and the like). Reflects the shares of Common Stock underlying the Series E Convertible Preferred Stock relating to the call right. Reflects the shares of Common Stock underlying the Repurchase Warrants relating to the call right. GSO Cactus Credit Opportunities Fund LP directly holds these securities. Steamboat Credit Opportunities Master Fund LP directly holds these securities. GSO Coastline Credit Partners LP directly holds these securities. GSO Aiguille des Grands Montets Fund II LP directly holds these securities. GSO Palmetto Opportunistic Investment Partners LP directly holds these securities. GSO Palmetto Opportunistic Associates LLC is the general partner of GSO Palmetto Opportunistic Investment Partners LP. GSO Credit-A Partners LP directly holds these securities. GSO Credit-A Associates LLC is the general partner of GSO Credit-A Partners LP. GSO Special Situations Fund LP directly holds these securities. GSO Special Situations Overseas Master Fund Ltd directly holds these securities (GSO Special Situations Overseas Master Fund Ltd, together with GSO Cactus Credit Opportunities Fund LP, Steamboat Credit Opportunities Master Fund LP, GSO Coastline Credit Partners LP, GSO Aiguille des Grands Montets Fund II LP, GSO Palmetto Opportunistic Investment Partners LP, GSO Credit-A Partners LP and GSO Special Situations Fund LP, the "GSO Funds"). GSO Holdings I L.L.C. is the managing member of each of GSO Palmetto Opportunistic Associates LLC and GSO Credit-A Associates LLC. GSO Capital Partners LP serves as the investment manager of each of GSO Cactus Credit Opportunities Fund LP, Steamboat Credit Opportunities Master Fund LP, GSO Coastline Credit Partners LP, GSO Aiguille des Grands Montets Fund II LP, GSO Special Situations Fund LP and GSO Special Situations Overseas Master Fund Ltd. GSO Advisor Holdings L.L.C. is the general partner of GSO Capital Partners LP. Blackstone Holdings I L.P. is a managing member of each of GSO Holdings I L.L.C. and the sole member of GSO Advisor Holdings L.L.C. Blackstone Holdings I/II GP Inc. is the general partner of Blackstone Holdings I L.P. The Blackstone Group L.P. is the controlling shareholder of Blackstone Holdings I/II GP Inc. Blackstone Group Management L.L.C. is the general partner of The Blackstone Group L.P. Blackstone Group Management L.L.C. is wholly-owned by Blackstone's senior managing directors and controlled by its founder, Stephen A. Schwarzman. In addition, each of Bennett J. Goodman, J. Albert Smith III and Douglas I. Ostrover may be deemed to have shared voting power and/or investment power with respect to the securities held by the GSO Funds. Mr. Ostrover is a member of the board of directors of the Issuer (3) GSO Cactus Credit Opportunities Fund LP directly holds these securities. Due to the limitations of the electronic filing system, GSO Cactus Credit Opportunities Fund LP, Steamboat Credit Opportunities Master Fund LP, GSO Coastline Credit Partners LP, GSO Aiguille des Grands Montets Fund II LP, GSO Palmetto Opportunistic Investment Partners LP, GSO Credit-A Partners LP, GSO Special Situations Fund LP, GSO Special Situations Overseas Master Fund Ltd, GSO Palmetto Opportunistic Associates LLC, GSO Credit-A Associates LLC and Douglas I. Ostrover are filing separate Forms 4. Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person. Each of the Reporting Persons (other than each of GSO Funds to the extent they directly hold securities reported herein), disclaims beneficial ownership of the securities held by each of the GSO Funds, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, each of the Reporting Persons (other than each of the GSO Funds to the extent they directly hold securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose. GSO Capital Partners LP, By: /s/ Marisa Beeney, Name: Marisa Beeney, Title: Authorized Signatory 2015-02-25 GSO Advisor Holdings L.L.C., By: Blackstone Holdings I L.P., its sole member, By: Blackstone Holdings I/II GP Inc., its general partner, By: /s/ John G. Finley, Name: John G. Finley, Title: Chief Legal Officer 2015-02-25 GSO Holdings I LLC, By: /s/ John G. Finley, Name: John G. Finley, Title: Chief Legal Officer 2015-02-25 Blackstone Holdings I L.P., By: Blackstone Holdings I/II GP Inc., its general partner, By: /s/ John G. Finley, Name: John G. Finley, Title: Chief Legal Officer 2015-02-25 Blackstone Holdings I/II GP Inc., By: /s/ John G. Finley, Name: John G. Finley, Title: Chief Legal Officer 2015-02-25 The Blackstone Group L.P., By: /s/ John G. Finley, Name: John G. Finley, Title: Chief Legal Officer 2015-02-25 Blackstone Group Management L.L.C., By: /s/ John G. Finley, Name: John G. Finley, Title: Chief Legal Officer 2015-02-25 Mr. Stephen A. Schwarzman, By: /s/ Stephen A. Schwarzman, Name: Stephen A. Schwarzman 2015-02-25 Bennett J. Goodman, By: /s/ Marisa Beeney, Name: Marisa Beeney, Title: Attorney-in-Fact 2015-02-25 J. Albert Smith III, By: /s/ Marisa Beeney, Name: Marisa Beeney, Title: Attorney-in-Fact 2015-02-25