A process for converting biomass to products is described. Biomass is contacted with hydrogen in the presence of a fluidized bed of hydropyrolysis catalyst in a reactor vessel under hydropyrolysis conditions; and products and char are removed from the reactor vessel. The products leave the fluidized bed at an exit bed velocity, the char has a settling velocity that is less than the exit bed velocity and hydropyrolysis catalyst has a settling velocity that is greater than the exit bed velocity.