Hover over and select Extract files... to choose a location.
If the archive contains a list of links and you want to output those to a single text file, you can use the command line (7z.exe): Open in the folder with your file. Links7.7z
The file is a 7-Zip compressed archive. Since you asked to "make a text," it is highly likely you want to extract text files from this archive or create a list of its contents in a text file. How to Handle Links7.7z Extracting Text Files Hover over and select Extract files
If you have 7-Zip installed, you can easily view or extract any .txt files inside: the Links7.7z file. Links7.7z