Попробуйте это
Dim bmp As Bitmap = PictureBox2.Image
Dim g As Graphics = Graphics.FromImage(bmp)
Dim myfont As Font = New Font("Courier New", 17, FontStyle.Bold)
Dim pnt As Point = New Point(149, 272)
Dim Text As String = "A4Q9-A11P-55G9-REFR"
g.DrawString(Text, myfont, Brushes.Black, pnt.X - 3, pnt.Y)
bmp.Save("test.png", System.Drawing.Imaging.ImageFormat.Png)