<?xml version="1.0" encoding="UTF-8"?>
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrldt="http://xbrl.org/2005/xbrldt">
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_LongtermProgrammingAssets" xlink:label="LongtermProgrammingAssets"/>
    <link:label xlink:type="resource" xlink:label="label_LongtermProgrammingAssets_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_LongtermProgrammingAssets_001">Długoterminowe aktywa programowe</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermProgrammingAssets" xlink:to="label_LongtermProgrammingAssets_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_BondsRedemptionWithInterest" xlink:label="BondsRedemptionWithInterest"/>
    <link:label xlink:type="resource" xlink:label="label_BondsRedemptionWithInterest_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_BondsRedemptionWithInterest_001">Wykup obligacji wraz z odsetkami</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BondsRedemptionWithInterest" xlink:to="label_BondsRedemptionWithInterest_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_OtherShortTermAssets" xlink:label="OtherShortTermAssets"/>
    <link:label xlink:type="resource" xlink:label="label_OtherShortTermAssets_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_OtherShortTermAssets_001">Pozostałe aktywa obrotowe</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherShortTermAssets" xlink:to="label_OtherShortTermAssets_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_ShareOfOtherComprehensiveIncomeOfAssociates" xlink:label="ShareOfOtherComprehensiveIncomeOfAssociates"/>
    <link:label xlink:type="resource" xlink:label="label_ShareOfOtherComprehensiveIncomeOfAssociates_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_ShareOfOtherComprehensiveIncomeOfAssociates_001">Udział w innych całkowitych dochodach jednostek stowarzyszonych</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfOtherComprehensiveIncomeOfAssociates" xlink:to="label_ShareOfOtherComprehensiveIncomeOfAssociates_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_CustomerRelationships" xlink:label="CustomerRelationships"/>
    <link:label xlink:type="resource" xlink:label="label_CustomerRelationships_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_CustomerRelationships_001">Relacje z klientami</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CustomerRelationships" xlink:to="label_CustomerRelationships_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_InvestmentFundsInflows" xlink:label="InvestmentFundsInflows"/>
    <link:label xlink:type="resource" xlink:label="label_InvestmentFundsInflows_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_InvestmentFundsInflows_001">Wpływy z tytułu inwestycji w fundusze</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentFundsInflows" xlink:to="label_InvestmentFundsInflows_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_ValuationOfThePutOption" xlink:label="ValuationOfThePutOption"/>
    <link:label xlink:type="resource" xlink:label="label_ValuationOfThePutOption_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_ValuationOfThePutOption_001">Wycena opcji put</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ValuationOfThePutOption" xlink:to="label_ValuationOfThePutOption_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_PaymentOfInterestOnLeaseLiabilities" xlink:label="PaymentOfInterestOnLeaseLiabilities"/>
    <link:label xlink:type="resource" xlink:label="label_PaymentOfInterestOnLeaseLiabilities_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_PaymentOfInterestOnLeaseLiabilities_001">Spłata odsetek od leasingu</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentOfInterestOnLeaseLiabilities" xlink:to="label_PaymentOfInterestOnLeaseLiabilities_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_FinanceIncomeCostsNet" xlink:label="FinanceIncomeCostsNet"/>
    <link:label xlink:type="resource" xlink:label="label_FinanceIncomeCostsNet_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_FinanceIncomeCostsNet_001">Koszty finansowe, netto</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceIncomeCostsNet" xlink:to="label_FinanceIncomeCostsNet_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_ForeignExchangeGainsLossesNet" xlink:label="ForeignExchangeGainsLossesNet"/>
    <link:label xlink:type="resource" xlink:label="label_ForeignExchangeGainsLossesNet_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_ForeignExchangeGainsLossesNet_001">Zyski/(straty) z tytułu różnic kursowych, netto</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignExchangeGainsLossesNet" xlink:to="label_ForeignExchangeGainsLossesNet_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_TradeAndOtherShortTermLiabilities" xlink:label="TradeAndOtherShortTermLiabilities"/>
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherShortTermLiabilities_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_TradeAndOtherShortTermLiabilities_001">Zobowiązania z tytułu dostaw i usług oraz pozostałe zobowiązania </link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherShortTermLiabilities" xlink:to="label_TradeAndOtherShortTermLiabilities_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_DepreciationAmortizationImpairmentAndLiquidation" xlink:label="DepreciationAmortizationImpairmentAndLiquidation"/>
    <link:label xlink:type="resource" xlink:label="label_DepreciationAmortizationImpairmentAndLiquidation_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_DepreciationAmortizationImpairmentAndLiquidation_001">Amortyzacja, utrata wartości i likwidacja</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAmortizationImpairmentAndLiquidation" xlink:to="label_DepreciationAmortizationImpairmentAndLiquidation_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_ConcessionsPayments" xlink:label="ConcessionsPayments"/>
    <link:label xlink:type="resource" xlink:label="label_ConcessionsPayments_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_ConcessionsPayments_001">Płatności z tytułu koncesji</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcessionsPayments" xlink:to="label_ConcessionsPayments_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_InterestExpense" xlink:label="InterestExpense"/>
    <link:label xlink:type="resource" xlink:label="label_InterestExpense_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_InterestExpense_001">Odsetki</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpense" xlink:to="label_InterestExpense_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_NoncurrentDeferredDistributionFees" xlink:label="NoncurrentDeferredDistributionFees"/>
    <link:label xlink:type="resource" xlink:label="label_NoncurrentDeferredDistributionFees_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_NoncurrentDeferredDistributionFees_001">Długoterminowe prowizje dla dystrybutorów rozliczane w czasie</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentDeferredDistributionFees" xlink:to="label_NoncurrentDeferredDistributionFees_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_NoncurrentUmtsLicenseLiabilities" xlink:label="NoncurrentUmtsLicenseLiabilities"/>
    <link:label xlink:type="resource" xlink:label="label_NoncurrentUmtsLicenseLiabilities_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_NoncurrentUmtsLicenseLiabilities_001">Długoterminowe zobowiązania z tytułu koncesji UMTS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentUmtsLicenseLiabilities" xlink:to="label_NoncurrentUmtsLicenseLiabilities_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_ChangeInContractAssets" xlink:label="ChangeInContractAssets"/>
    <link:label xlink:type="resource" xlink:label="label_ChangeInContractAssets_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_ChangeInContractAssets_001">Zmiana stanu aktywów z tytułu kontraktów</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInContractAssets" xlink:to="label_ChangeInContractAssets_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_PaymentsForFilmLicensesAndSportsRights" xlink:label="PaymentsForFilmLicensesAndSportsRights"/>
    <link:label xlink:type="resource" xlink:label="label_PaymentsForFilmLicensesAndSportsRights_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_PaymentsForFilmLicensesAndSportsRights_001">Płatności za licencje filmowe i sportowe</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForFilmLicensesAndSportsRights" xlink:to="label_PaymentsForFilmLicensesAndSportsRights_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_ReceptionEquipment" xlink:label="ReceptionEquipment"/>
    <link:label xlink:type="resource" xlink:label="label_ReceptionEquipment_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_ReceptionEquipment_001">Zestawy odbiorcze</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceptionEquipment" xlink:to="label_ReceptionEquipment_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_OtherLongtermAssets" xlink:label="OtherLongtermAssets"/>
    <link:label xlink:type="resource" xlink:label="label_OtherLongtermAssets_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_OtherLongtermAssets_001">Inne aktywa długoterminowe</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLongtermAssets" xlink:to="label_OtherLongtermAssets_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_CumulativeCatchUpResultingFromModificationOfTheLoanAgreement" xlink:label="CumulativeCatchUpResultingFromModificationOfTheLoanAgreement"/>
    <link:label xlink:type="resource" xlink:label="label_CumulativeCatchUpResultingFromModificationOfTheLoanAgreement_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_CumulativeCatchUpResultingFromModificationOfTheLoanAgreement_001">Efekt przeliczenia wartości zobowiązań z tytułu modyfikacji umowy kredytowej</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CumulativeCatchUpResultingFromModificationOfTheLoanAgreement" xlink:to="label_CumulativeCatchUpResultingFromModificationOfTheLoanAgreement_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_InvestmentFundsOutflows" xlink:label="InvestmentFundsOutflows"/>
    <link:label xlink:type="resource" xlink:label="label_InvestmentFundsOutflows_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_InvestmentFundsOutflows_001">Wypływy z tytułu inwestycji w fundusze</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentFundsOutflows" xlink:to="label_InvestmentFundsOutflows_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_OtherLongtermLiabilities" xlink:label="OtherLongtermLiabilities"/>
    <link:label xlink:type="resource" xlink:label="label_OtherLongtermLiabilities_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_OtherLongtermLiabilities_001">Inne długoterminowe zobowiązania i rezerwy</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLongtermLiabilities" xlink:to="label_OtherLongtermLiabilities_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_CurrentUmtsLicenseLiabilities" xlink:label="CurrentUmtsLicenseLiabilities"/>
    <link:label xlink:type="resource" xlink:label="label_CurrentUmtsLicenseLiabilities_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_CurrentUmtsLicenseLiabilities_001">Krótkoterminowe zobowiązania z tytułu koncesji UMTS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentUmtsLicenseLiabilities" xlink:to="label_CurrentUmtsLicenseLiabilities_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_ChangeInContractLiabilities" xlink:label="ChangeInContractLiabilities"/>
    <link:label xlink:type="resource" xlink:label="label_ChangeInContractLiabilities_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_ChangeInContractLiabilities_001">Zmiana stanu zobowiązań z tytułu kontraktów</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInContractLiabilities" xlink:to="label_ChangeInContractLiabilities_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_ShortTermProgrammingAssets" xlink:label="ShortTermProgrammingAssets"/>
    <link:label xlink:type="resource" xlink:label="label_ShortTermProgrammingAssets_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_ShortTermProgrammingAssets_001">Krótkoterminowe aktywa programowe</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShortTermProgrammingAssets" xlink:to="label_ShortTermProgrammingAssets_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_FinancialLiabilitiesForTheNoncontrollingInterestsPut" xlink:label="FinancialLiabilitiesForTheNoncontrollingInterestsPut"/>
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesForTheNoncontrollingInterestsPut_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_FinancialLiabilitiesForTheNoncontrollingInterestsPut_001">Zobowiązania z tytułu wezwania na akcje</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesForTheNoncontrollingInterestsPut" xlink:to="label_FinancialLiabilitiesForTheNoncontrollingInterestsPut_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_ShareCapitalIncrease" xlink:label="ShareCapitalIncrease"/>
    <link:label xlink:type="resource" xlink:label="label_ShareCapitalIncrease_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_ShareCapitalIncrease_001">Wypływy z tytułu podwyższenia kapitału w jednostce stowarzyszonej</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareCapitalIncrease" xlink:to="label_ShareCapitalIncrease_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_NetAdditionsOfReceptionEquipment" xlink:label="NetAdditionsOfReceptionEquipment"/>
    <link:label xlink:type="resource" xlink:label="label_NetAdditionsOfReceptionEquipment_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_NetAdditionsOfReceptionEquipment_001">Zwiększenie netto wartości zestawów odbiorczych</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetAdditionsOfReceptionEquipment" xlink:to="label_NetAdditionsOfReceptionEquipment_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_AmortizationOfFilmLicensesAndSportsRights" xlink:label="AmortizationOfFilmLicensesAndSportsRights"/>
    <link:label xlink:type="resource" xlink:label="label_AmortizationOfFilmLicensesAndSportsRights_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_AmortizationOfFilmLicensesAndSportsRights_001">Amortyzacja licencji filmowych i sportowych</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortizationOfFilmLicensesAndSportsRights" xlink:to="label_AmortizationOfFilmLicensesAndSportsRights_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodMember" xlink:label="ShareOfOtherComprehensiveIncomeOfAssociatesMember"/>
    <link:label xlink:type="resource" xlink:label="label_ShareOfOtherComprehensiveIncomeOfAssociatesMember_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_ShareOfOtherComprehensiveIncomeOfAssociatesMember_001">Udział w innych całkowitych dochodach jednostek stowarzyszonych [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfOtherComprehensiveIncomeOfAssociatesMember" xlink:to="label_ShareOfOtherComprehensiveIncomeOfAssociatesMember_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_CurrentDeferredDistributionFees" xlink:label="CurrentDeferredDistributionFees"/>
    <link:label xlink:type="resource" xlink:label="label_CurrentDeferredDistributionFees_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_CurrentDeferredDistributionFees_001">Krótkoterminowe prowizje dla dystrybutorów rozliczane w czasie</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentDeferredDistributionFees" xlink:to="label_CurrentDeferredDistributionFees_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_ProfitLossOnInvestmentActivitiesNet" xlink:label="ProfitLossOnInvestmentActivitiesNet"/>
    <link:label xlink:type="resource" xlink:label="label_ProfitLossOnInvestmentActivitiesNet_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_ProfitLossOnInvestmentActivitiesNet_001">Zyski/(straty) z działalności inwestycyjnej, netto</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossOnInvestmentActivitiesNet" xlink:to="label_ProfitLossOnInvestmentActivitiesNet_001"/>
    <link:loc xlink:type="locator" xlink:href="259400EM1ITR201TTX36-2020-12-31.xsd#cp_PaymentOfInterestOnLoansBorrowingsBondsAndCommissions" xlink:label="PaymentOfInterestOnLoansBorrowingsBondsAndCommissions"/>
    <link:label xlink:type="resource" xlink:label="label_PaymentOfInterestOnLoansBorrowingsBondsAndCommissions_001" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="pl" id="label_PaymentOfInterestOnLoansBorrowingsBondsAndCommissions_001">Spłata odsetek od kredytów, pożyczek, obligacji i zapłacone prowizje</link:label>
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