I found this solution. In case you know something better, please let me know!
hf = figure;
ax = subplot(3,3,5);
hold on
scatter(0:3,0:3,[],'filled','Clipping', 'off')
plot(0:3,0:3,'Clipping', 'off')
hold off
axis equal
axis(ax, [0 2 0 2]);
ha = annotation('textarrow','String','arrow text');
ha.Parent = hf.CurrentAxes;
ha.X = [-2 1];
ha.Y = [1 0];
set(get(hf,'children'),'clipping','off')
