Exhibit 99.2

CAPITALIZATION

The following table sets out SEK’s consolidated capitalization as at March 31, 2025. This table should be read in conjunction with the unaudited financial statements included in our Report on Form 6-K for the three months ended March 31, 2025.

(Skr millions)
Senior debt:
Long-term		192,552
Short-term		112,621
Total senior debt (1), (2)		305,173

Subordinated debt:
Long-term		-
Short-term		-
Total subordinated debt (1)		-

Equity:
Share capital (3,990,000) shares issued and paid-up, par value skr 1,000 (3)		3,990
Reserves		208
Retained earnings		19,163

Total		23,361

Total capitalization		328,534

(1)

At March 31, 2025, our consolidated group had no contingent liabilities. Other than that disclosed herein, we had no other indebtedness as at March 31, 2025.

(2)

Unguaranteed and unsecured.

(3)

In accordance with our Articles of Association, SEK’s share capital shall neither be less than Skr 1,500 million nor more than Skr 6,000 million.

There has been no material change in SEK’s capitalization, contingent liabilities and guarantees since March 31, 2025.

SWEDISH EXPORT CREDIT CORP /SWED/ 6-K