X0306 4 2018-06-29 0 0000319815 MAXWELL TECHNOLOGIES INC MXWL 0001707104 Golubovich Ilya 3888 CALLE FORTUNADA SAN DIEGO CA 92123 1 0 0 0 Common Stock 2018-06-29 4 A 0 3221 0.00 A 17726 D Common Stock 1639702 I Arbat Capital Group Limited Common Stock 1390204 I I2BF Energy Limited These shares have been awarded in lieu of cash consideration for non-employee director fees of $16,750, per the reporting person's election. Shares will be delivered to the reporting person on the earlier of February 20, 2019, termination of the reporting person's service to the Company, the reporting person's death or a change in control of the Company. Ilya Golubovich is a director of I2BF Venture Partners Ltd., the sole shareholder of I2BF Energy, Ltd., and a director of Arbat Capital Group Limited and has voting and dispositive power with respect to these shares. Ilya Golubovich disclaims beneficial ownership except to the extent of his pecuniary interest therein. /s/ Emily Lough, by Power of Attorney 2018-07-03