/ AbstractExclusive photoproduction cross sections have been measured for the process $γp \rightarrow pπ^0(e^+e^-(γ))$ with the Dalitz decay final state using tagged photon energies in the range of $E_γ = 1.275-5.425$ GeV. The complete angular distribution of the final state $π^0$, for the entire photon energy range up to large values of $t$ and $u$, has been measured for the first time. The data obtained show that the cross section $dσ/dt$, at mid to large angles, decreases with energy as $s^{-6.89\pm 0.26} $. This is in agreement with the perturbative QCD quark counting rule prediction of $s^{-7} $. Paradoxically, the size of angular distribution of measured cross sections is greatly underestimated by the QCD based Generalized Parton Distribution mechanism at highest available invariant energy $s=11$ GeV$^2$. At the same time, the Regge exchange based models for $π^0$ photoproduction are more consistent with experimental data.