Make sure you are in data view.

In the table of contents, right-click the data frame containing the graphics you want to convert to features and click Convert Graphics To Features.

You can also click the Drawing menu on the Draw toolbar and click Convert Graphics To Features.

Click the Convert drop-down arrow and click the type of graphic to convert.

By default, only the selected graphics will be converted. Uncheck Selected graphics only if you want to convert all graphics.

If you are converting text to annotation, specify a reference scale and choose whether to include any point, line, or polygon graphics in the output annotation feature class.

Click the option for the output coordinate system you want to use.

Click the browse button Browse button and navigate to a location to save the exported data.

Type the name for the output data source.

Click the Save as type drop-down arrow and choose the output type. The output can be either a shapefile or a geodatabase feature class .

Click Save.

If you want the graphics to be deleted once you've converted them to features, check Automatically delete graphics after conversion.

Click OK.