diff --git a/src/Serilog.Extensions.Logging/Extensions/Logging/SerilogLogger.cs b/src/Serilog.Extensions.Logging/Extensions/Logging/SerilogLogger.cs
index 06efe62..9a82609 100644
--- a/src/Serilog.Extensions.Logging/Extensions/Logging/SerilogLogger.cs
+++ b/src/Serilog.Extensions.Logging/Extensions/Logging/SerilogLogger.cs
@@ -167,10 +167,10 @@ LogEvent PrepareWrite<TState>(LogEventLevel level, EventId eventId, TState state
 
     static object? AsLoggableValue<TState>(TState state, Func<TState, Exception?, string>? formatter)
     {
-        object? stateObj = state;
+        object? stateObj = null;
         if (formatter != null)
             stateObj = formatter(state, null);
-        return stateObj;
+        return stateObj ?? state;
     }
 
     internal static LogEventProperty CreateEventIdProperty(EventId eventId)