Severity Level 2 refers to issues that cause moderate disruption to operations but do not halt critical functions. These problems may affect a specific system or service, leading to reduced performance or functionality. While not urgent, they require timely attention to prevent escalation. Examples of Severity Level 2 issues include software bugs that impact user experience or network outages that limit access to certain applications. Organizations typically prioritize these issues to ensure they are resolved efficiently, maintaining overall productivity and user satisfaction.