The Graphics object's Transform property returns the transformation. The code uses this object's TransformPoints method to see where the point (0, 0) is mapped by the transformation. It resets the transformation to remove it and calls DrawString to draw the untransformed text at the transformed location.

Private Sub Form1_Paint(ByVal sender As Object, ByVal e As _
    System.Windows.Forms.PaintEventArgs) Handles _
    MyBase.Paint
    ' Draw a transformed rectangle and some ellipses.
    e.Graphics.ScaleTransform(1.5, 1.5, MatrixOrder.Append)
    e.Graphics.TranslateTransform(80, 20)
    e.Graphics.RotateTransform(20, MatrixOrder.Append)

    e.Graphics.DrawRectangle(Pens.Blue, 0, 0, 100, 100)
    e.Graphics.DrawEllipse(Pens.Red, -3, -3, 6, 6)
    e.Graphics.DrawEllipse(Pens.Yellow, 97, 97, 6, 6)

    ' Draw untransformed text starting at the
    ' transformed location (0, 0).

    ' Transform the point (0, 0) to see where it goes.
    Dim pts() As Point = {New Point(0, 0)}
    e.Graphics.Transform.TransformPoints(pts)

    ' Reset the transformation.
    e.Graphics.ResetTransform()

    ' Draw the text at the transformed point.
    Dim the_font As New Font("Times New Roman", 20, _
        FontStyle.Regular, GraphicsUnit.Pixel)
    e.Graphics.DrawString("WYSIWYG", the_font, _
        Brushes.Brown, _
        pts(0).X, pts(0).Y)
    the_font.Dispose()
End Sub