Exclusive pp̄ annihilation into two photons at large s and t can be described in terms of the handbag diagram. The process is separated into a ‘soft’ part which is parametrised by General Parton Distributions and a ‘hard’ part which describes the annihilation of a quasi‐free qq̄ pair into two photons. The process is of special interest due to its relation to the time‐like formfactor and to Generalised Parton Distributions. It is proposed to measure this and related exclusive annihilation processes with a scalar meson, a vector meson or a lepton pair in the final state at the PANDA experiment at GSI. Estimates of the expected count rates based on a model and a previous experiment are compared.