At around 1.30pm today [Wednesday 8 June], emergency services were called to Roadford Lake in Lewdown, Okehampton, after reports that a boat had capsized in the water.
A large number of people were said to be on the boat at the time.
Police, fire, ambulance, air ambulance, coastguard, and search and rescue teams have all been dispatched.
Paramedics at the scene checked on and discharged three people who were safely recovered from the water.
Two people have been rescued and are being treated at Derriford Hospital. Their circumstances are unknown.
Two more people are still missing, and searches are ongoing.
The next-of-kin have been notified.
The passengers in the group were all adults who were thought to be Devon residents.
The boat is being secured, and police are on the scene.
A road closure has been implemented at the activity centre to allow access to the necessary services.