<link:linkbase
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      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AccantonamentiNettiAiFondiPerRischiEOneriPerImpegniEGaranzieRilasciate" xlink:label="ext_AccantonamentiNettiAiFondiPerRischiEOneriPerImpegniEGaranzieRilasciate" xlink:type="locator"/>
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      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AcquistiDiAttivitaMaterialiClassificateComeAttivitaDiInvestimento" xlink:label="ext_AcquistiDiAttivitaMaterialiClassificateComeAttivitaDiInvestimento" xlink:type="locator"/>
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      <link:label id="id_9592" xlink:label="ext_AcquistiDiAttivitaMaterialiClassificateComeAttivitaDiInvestimento_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Purchase Of Tangible Assets Classified As Investing activities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AdeguamentoDiValoreDelleAttivitaFinanziarieOggettoDiCoperturaGenerica" xlink:label="ext_AdeguamentoDiValoreDelleAttivitaFinanziarieOggettoDiCoperturaGenerica" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AdeguamentoDiValoreDelleAttivitaFinanziarieOggettoDiCoperturaGenerica" xlink:to="ext_AdeguamentoDiValoreDelleAttivitaFinanziarieOggettoDiCoperturaGenerica_lbl" xlink:type="arc"/>
      <link:label id="id_9594" xlink:label="ext_AdeguamentoDiValoreDelleAttivitaFinanziarieOggettoDiCoperturaGenerica_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Assets: Fair Value Changes Of The Hedged Items In Portfolio Hedge Of Interest Rate Risk</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AdeguamentoDiValoreDellePassivitaFinanziarieOggettoDiCoperturaGenerica" xlink:label="ext_AdeguamentoDiValoreDellePassivitaFinanziarieOggettoDiCoperturaGenerica" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AdeguamentoDiValoreDellePassivitaFinanziarieOggettoDiCoperturaGenerica" xlink:to="ext_AdeguamentoDiValoreDellePassivitaFinanziarieOggettoDiCoperturaGenerica_lbl" xlink:type="arc"/>
      <link:label id="id_9596" xlink:label="ext_AdeguamentoDiValoreDellePassivitaFinanziarieOggettoDiCoperturaGenerica_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Liabilities: Fair Value Changes Of The Hedged Items In Portfolio Hedge Of Interest Rate Risk</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AfflussiDeflussiDiCassaNettiDaCommissioniEProvvigioniDaAttivitaOperative" xlink:label="ext_AfflussiDeflussiDiCassaNettiDaCommissioniEProvvigioniDaAttivitaOperative" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AfflussiDeflussiDiCassaNettiDaCommissioniEProvvigioniDaAttivitaOperative" xlink:to="ext_AfflussiDeflussiDiCassaNettiDaCommissioniEProvvigioniDaAttivitaOperative_lbl" xlink:type="arc"/>
      <link:label id="id_9598" xlink:label="ext_AfflussiDeflussiDiCassaNettiDaCommissioniEProvvigioniDaAttivitaOperative_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Net Cash Flows From Used In Receipts Payments Of Fees And Commissions From Operations</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AltreRiserve" xlink:label="ext_AltreRiserve" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AltreRiserve" xlink:to="ext_AltreRiserve_lbl" xlink:type="arc"/>
      <link:label id="id_9600" xlink:label="ext_AltreRiserve_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Other Reserves Other</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AltriAfflussiDeflussiDaAttivitaOperativeCessateAlNettoDelleImposte" xlink:label="ext_AltriAfflussiDeflussiDaAttivitaOperativeCessateAlNettoDelleImposte" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AltriAfflussiDeflussiDaAttivitaOperativeCessateAlNettoDelleImposte" xlink:to="ext_AltriAfflussiDeflussiDaAttivitaOperativeCessateAlNettoDelleImposte_lbl" xlink:type="arc"/>
      <link:label id="id_9602" xlink:label="ext_AltriAfflussiDeflussiDaAttivitaOperativeCessateAlNettoDelleImposte_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Other Cash Inflows Outflows From Discontinued Operations Net Of Tax</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AltriAfflussiDeflussiDaEmissioniAcquistiDiAzioniProprie" xlink:label="ext_AltriAfflussiDeflussiDaEmissioniAcquistiDiAzioniProprie" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AltriAfflussiDeflussiDaEmissioniAcquistiDiAzioniProprie" xlink:to="ext_AltriAfflussiDeflussiDaEmissioniAcquistiDiAzioniProprie_lbl" xlink:type="arc"/>
      <link:label id="id_9604" xlink:label="ext_AltriAfflussiDeflussiDaEmissioniAcquistiDiAzioniProprie_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Other Inflows Outflows From Issue Purchase Of Treasury shares</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AltriAfflussiDeflussiDaEmissioniAcquistiDiStrumentiDiCapitale" xlink:label="ext_AltriAfflussiDeflussiDaEmissioniAcquistiDiStrumentiDiCapitale" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AltriAfflussiDeflussiDaEmissioniAcquistiDiStrumentiDiCapitale" xlink:to="ext_AltriAfflussiDeflussiDaEmissioniAcquistiDiStrumentiDiCapitale_lbl" xlink:type="arc"/>
      <link:label id="id_9606" xlink:label="ext_AltriAfflussiDeflussiDaEmissioniAcquistiDiStrumentiDiCapitale_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Other Inflows Outflows From Issue Purchase Of Equity instruments</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AltriAfflussiDeflussiDallaVenditaAcquistoDiControlloDiTerzi" xlink:label="ext_AltriAfflussiDeflussiDallaVenditaAcquistoDiControlloDiTerzi" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AltriAfflussiDeflussiDallaVenditaAcquistoDiControlloDiTerzi" xlink:to="ext_AltriAfflussiDeflussiDallaVenditaAcquistoDiControlloDiTerzi_lbl" xlink:type="arc"/>
      <link:label id="id_9608" xlink:label="ext_AltriAfflussiDeflussiDallaVenditaAcquistoDiControlloDiTerzi_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Other Inflows Outflows From Sale Purchase of Minority control</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AltriAfflussiDeflussiDiCassaDaProventiOneriAssicurativi" xlink:label="ext_AltriAfflussiDeflussiDiCassaDaProventiOneriAssicurativi" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AltriAfflussiDeflussiDiCassaDaProventiOneriAssicurativi" xlink:to="ext_AltriAfflussiDeflussiDiCassaDaProventiOneriAssicurativi_lbl" xlink:type="arc"/>
      <link:label id="id_9610" xlink:label="ext_AltriAfflussiDeflussiDiCassaDaProventiOneriAssicurativi_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Othe Cash Inflows Outflows From Insurance Receipts Payments</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AltriFondiPerRischiEOneri" xlink:label="ext_AltriFondiPerRischiEOneri" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AltriFondiPerRischiEOneri" xlink:to="ext_AltriFondiPerRischiEOneri_lbl" xlink:type="arc"/>
      <link:label id="id_9613" xlink:label="ext_AltriFondiPerRischiEOneri_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Other Provisions For Risk And Charges</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AttivitaFiscali" xlink:label="ext_AttivitaFiscali" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AttivitaFiscali" xlink:to="ext_AttivitaFiscali_lbl" xlink:type="arc"/>
      <link:label id="id_9615" xlink:label="ext_AttivitaFiscali_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Tax Assets</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AttivitaMateriali" xlink:label="ext_AttivitaMateriali" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AttivitaMateriali" xlink:to="ext_AttivitaMateriali_lbl" xlink:type="arc"/>
      <link:label id="id_9616" xlink:label="ext_AttivitaMateriali_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Tangible Assets</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AttivitaNonCorrentiEGruppiDiAttivitaInViaDiDismissione" xlink:label="ext_AttivitaNonCorrentiEGruppiDiAttivitaInViaDiDismissione" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AttivitaNonCorrentiEGruppiDiAttivitaInViaDiDismissione" xlink:to="ext_AttivitaNonCorrentiEGruppiDiAttivitaInViaDiDismissione_lbl" xlink:type="arc"/>
      <link:label id="id_9618" xlink:label="ext_AttivitaNonCorrentiEGruppiDiAttivitaInViaDiDismissione_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Other Comprehensive Income Net Of Tax Non Current Assets And Disposal Groups Classified As Held For Sale Not To Be Reclassified To Profit Or Loss</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AzioniRimborsabili" xlink:label="ext_AzioniRimborsabili" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AzioniRimborsabili" xlink:to="ext_AzioniRimborsabili_lbl" xlink:type="arc"/>
      <link:label id="id_9620" xlink:label="ext_AzioniRimborsabili_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Redeemable Shares</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_CoperturaDeiFlussiFinanziari" xlink:label="ext_CoperturaDeiFlussiFinanziari" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_CoperturaDeiFlussiFinanziari" xlink:to="ext_CoperturaDeiFlussiFinanziari_lbl" xlink:type="arc"/>
      <link:label id="id_9622" xlink:label="ext_CoperturaDeiFlussiFinanziari_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Cash Flow Hedging</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_CoperturaDiInvestimentiEsteri" xlink:label="ext_CoperturaDiInvestimentiEsteri" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_CoperturaDiInvestimentiEsteri" xlink:to="ext_CoperturaDiInvestimentiEsteri_lbl" xlink:type="arc"/>
      <link:label id="id_9624" xlink:label="ext_CoperturaDiInvestimentiEsteri_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Foreign Investments Hedging</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_CostiOperativi" xlink:label="ext_CostiOperativi" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_CostiOperativi" xlink:to="ext_CostiOperativi_lbl" xlink:type="arc"/>
      <link:label id="id_9627" xlink:label="ext_CostiOperativi_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Operating Costs</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_DecrementiIncrementiDiAltreAttivitaObbligatoriamenteValutateAlFairValue" xlink:label="ext_DecrementiIncrementiDiAltreAttivitaObbligatoriamenteValutateAlFairValue" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_DecrementiIncrementiDiAltreAttivitaObbligatoriamenteValutateAlFairValue" xlink:to="ext_DecrementiIncrementiDiAltreAttivitaObbligatoriamenteValutateAlFairValue_lbl" xlink:type="arc"/>
      <link:label id="id_9628" xlink:label="ext_DecrementiIncrementiDiAltreAttivitaObbligatoriamenteValutateAlFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Adjustments For Decrease Increase In Other Financial Assets Mandatorily At Fair Value</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_DecrementiIncrementiDiAttivitaFinanziarieDesignateAlFairValue" xlink:label="ext_DecrementiIncrementiDiAttivitaFinanziarieDesignateAlFairValue" xlink:type="locator"/>
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      <link:label id="id_9630" xlink:label="ext_DecrementiIncrementiDiAttivitaFinanziarieDesignateAlFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Adjustments For Decrease Increase In Financial Assets Designated At Fair Value</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_DecrementiIncrementiDiAttivitaFinanziarieValutateAlCostoAmmortizzato" xlink:label="ext_DecrementiIncrementiDiAttivitaFinanziarieValutateAlCostoAmmortizzato" xlink:type="locator"/>
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      <link:label id="id_9632" xlink:label="ext_DecrementiIncrementiDiAttivitaFinanziarieValutateAlCostoAmmortizzato_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Adjustments For Decrease Increase In Financial Assets At Amortised Cost</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_DecrementiIncrementiDiAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessiva" xlink:label="ext_DecrementiIncrementiDiAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessiva" xlink:type="locator"/>
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      <link:label id="id_9634" xlink:label="ext_DecrementiIncrementiDiAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessiva_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Adjustments For Decrease Increase In Financial Assets At Fair Value Through Other Comprehensive Income</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_DepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTangibleAssets" xlink:label="ext_DepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTangibleAssets" xlink:type="locator"/>
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      <link:label id="id_9637" xlink:label="ext_DepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTangibleAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Depreciation Amortisation And Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss Tangible Assets</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_DiCuiAvviamento" xlink:label="ext_DiCuiAvviamento" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_DiCuiAvviamento" xlink:to="ext_DiCuiAvviamento_lbl" xlink:type="arc"/>
      <link:label id="id_9638" xlink:label="ext_DiCuiAvviamento_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Of which Goodwill</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_DifferenzeDiCambio" xlink:label="ext_DifferenzeDiCambio" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_DifferenzeDiCambio" xlink:to="ext_DifferenzeDiCambio_lbl" xlink:type="arc"/>
      <link:label id="id_9640" xlink:label="ext_DifferenzeDiCambio_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Foreign Exchange Differences</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_ExtraordinaryDividendsDistribution" xlink:label="ext_ExtraordinaryDividendsDistribution" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_ExtraordinaryDividendsDistribution" xlink:to="ext_ExtraordinaryDividendsDistribution_lbl" xlink:type="arc"/>
      <link:label id="id_9643" xlink:label="ext_ExtraordinaryDividendsDistribution_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Extraordinary Dividends Distribution</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_GainsLossesOnFinancialAssetsOtherThanEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax" xlink:label="ext_GainsLossesOnFinancialAssetsOtherThanEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_GainsLossesOnFinancialAssetsOtherThanEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax" xlink:to="ext_GainsLossesOnFinancialAssetsOtherThanEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax_lbl" xlink:type="arc"/>
      <link:label id="id_9645" xlink:label="ext_GainsLossesOnFinancialAssetsOtherThanEquityInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Gains Losses On Financial Assets Other Than Equity Instruments Measured At Fair Value Through Other Comprehensive Income Net Of Tax</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_ImpegniEGaranzieRilasciate" xlink:label="ext_ImpegniEGaranzieRilasciate" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_ImpegniEGaranzieRilasciate" xlink:to="ext_ImpegniEGaranzieRilasciate_lbl" xlink:type="arc"/>
      <link:label id="id_9647" xlink:label="ext_ImpegniEGaranzieRilasciate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Provision For Committments And Guarantees Given</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_IncreaseDecreaseDueToEquityInstruments" xlink:label="ext_IncreaseDecreaseDueToEquityInstruments" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_IncreaseDecreaseDueToEquityInstruments" xlink:to="ext_IncreaseDecreaseDueToEquityInstruments_lbl" xlink:type="arc"/>
      <link:label id="id_9649" xlink:label="ext_IncreaseDecreaseDueToEquityInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Increase Decrease due to Equity Instruments</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_IncreaseDecreaseOfReserves" xlink:label="ext_IncreaseDecreaseOfReserves" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_IncreaseDecreaseOfReserves" xlink:to="ext_IncreaseDecreaseOfReserves_lbl" xlink:type="arc"/>
      <link:label id="id_9651" xlink:label="ext_IncreaseDecreaseOfReserves_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Increase Decrease of Reserves</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_IncreaseDecreaseThroughTreasuryShareDerivatives" xlink:label="ext_IncreaseDecreaseThroughTreasuryShareDerivatives" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_IncreaseDecreaseThroughTreasuryShareDerivatives" xlink:to="ext_IncreaseDecreaseThroughTreasuryShareDerivatives_lbl" xlink:type="arc"/>
      <link:label id="id_9653" xlink:label="ext_IncreaseDecreaseThroughTreasuryShareDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Increase (decrease) through treasury share derivatives</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_IncrementiDecrementiAltrePassivita" xlink:label="ext_IncrementiDecrementiAltrePassivita" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_IncrementiDecrementiAltrePassivita" xlink:to="ext_IncrementiDecrementiAltrePassivita_lbl" xlink:type="arc"/>
      <link:label id="id_9654" xlink:label="ext_IncrementiDecrementiAltrePassivita_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Cash Flows From Increase Decrease Of Other Liabilities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_IncrementiDecrementiDiPassivitaFinanziarieValutateAlCostoAmmortizzato" xlink:label="ext_IncrementiDecrementiDiPassivitaFinanziarieValutateAlCostoAmmortizzato" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_IncrementiDecrementiDiPassivitaFinanziarieValutateAlCostoAmmortizzato" xlink:to="ext_IncrementiDecrementiDiPassivitaFinanziarieValutateAlCostoAmmortizzato_lbl" xlink:type="arc"/>
      <link:label id="id_9656" xlink:label="ext_IncrementiDecrementiDiPassivitaFinanziarieValutateAlCostoAmmortizzato_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Adjustments For Increase Decrease In Financial Liabilities At Amortised Cost</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_IncrementiDecrementiPassivitaFinanziarieDesignateAlFairValue" xlink:label="ext_IncrementiDecrementiPassivitaFinanziarieDesignateAlFairValue" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_IncrementiDecrementiPassivitaFinanziarieDesignateAlFairValue" xlink:to="ext_IncrementiDecrementiPassivitaFinanziarieDesignateAlFairValue_lbl" xlink:type="arc"/>
      <link:label id="id_9658" xlink:label="ext_IncrementiDecrementiPassivitaFinanziarieDesignateAlFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Adjustments For Increase Decrease Of Financial Liabilities Designated At Fair Value</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_InteressiAttiviEProventiAssimilati" xlink:label="ext_InteressiAttiviEProventiAssimilati" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_InteressiAttiviEProventiAssimilati" xlink:to="ext_InteressiAttiviEProventiAssimilati_lbl" xlink:type="arc"/>
      <link:label id="id_9661" xlink:label="ext_InteressiAttiviEProventiAssimilati_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Interest Income And Similar Revenues</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_InteressiPassiviEOneriAssimilati" xlink:label="ext_InteressiPassiviEOneriAssimilati" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_InteressiPassiviEOneriAssimilati" xlink:to="ext_InteressiPassiviEOneriAssimilati_lbl" xlink:type="arc"/>
      <link:label id="id_9663" xlink:label="ext_InteressiPassiviEOneriAssimilati_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Interest Expense And Similar Charges</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_LiquiditaAssorbitaDaAttivitaDiInvestimento" xlink:label="ext_LiquiditaAssorbitaDaAttivitaDiInvestimento" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_LiquiditaAssorbitaDaAttivitaDiInvestimento" xlink:to="ext_LiquiditaAssorbitaDaAttivitaDiInvestimento_lbl" xlink:type="arc"/>
      <link:label id="id_9664" xlink:label="ext_LiquiditaAssorbitaDaAttivitaDiInvestimento_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en"> Cash Flows Used In Investing Activities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_LiquiditaGenerataAssorbitaDaAltreAttivita" xlink:label="ext_LiquiditaGenerataAssorbitaDaAltreAttivita" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_LiquiditaGenerataAssorbitaDaAltreAttivita" xlink:to="ext_LiquiditaGenerataAssorbitaDaAltreAttivita_lbl" xlink:type="arc"/>
      <link:label id="id_9666" xlink:label="ext_LiquiditaGenerataAssorbitaDaAltreAttivita_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Liquidity Generated Absorbed By Other Assets</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_LiquiditaGenerataAssorbitaDalleAttivitaFinanziarieClassificateComeAttivitaOperative" xlink:label="ext_LiquiditaGenerataAssorbitaDalleAttivitaFinanziarieClassificateComeAttivitaOperative" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_LiquiditaGenerataAssorbitaDalleAttivitaFinanziarieClassificateComeAttivitaOperative" xlink:to="ext_LiquiditaGenerataAssorbitaDalleAttivitaFinanziarieClassificateComeAttivitaOperative_lbl" xlink:type="arc"/>
      <link:label id="id_9668" xlink:label="ext_LiquiditaGenerataAssorbitaDalleAttivitaFinanziarieClassificateComeAttivitaOperative_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Cash Flows From Used In Financial Assets Classified As Operating activities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_LiquiditaGenerataAssorbitaDallePassivitaFinanziarieClassificateComeAttivitaOperative" xlink:label="ext_LiquiditaGenerataAssorbitaDallePassivitaFinanziarieClassificateComeAttivitaOperative" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_LiquiditaGenerataAssorbitaDallePassivitaFinanziarieClassificateComeAttivitaOperative" xlink:to="ext_LiquiditaGenerataAssorbitaDallePassivitaFinanziarieClassificateComeAttivitaOperative_lbl" xlink:type="arc"/>
      <link:label id="id_9670" xlink:label="ext_LiquiditaGenerataAssorbitaDallePassivitaFinanziarieClassificateComeAttivitaOperative_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Cash Flows From Used In Financial Liabilities Classified As Operating activities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_LiquiditaGenerataDaAttivitaDiInvestimento" xlink:label="ext_LiquiditaGenerataDaAttivitaDiInvestimento" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_LiquiditaGenerataDaAttivitaDiInvestimento" xlink:to="ext_LiquiditaGenerataDaAttivitaDiInvestimento_lbl" xlink:type="arc"/>
      <link:label id="id_9672" xlink:label="ext_LiquiditaGenerataDaAttivitaDiInvestimento_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Cash Flows From Investing Activities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_MargineDiInteresse" xlink:label="ext_MargineDiInteresse" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_MargineDiInteresse" xlink:to="ext_MargineDiInteresse_lbl" xlink:type="arc"/>
      <link:label id="id_9675" xlink:label="ext_MargineDiInteresse_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Net Interest Margin</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_MargineDiIntermediazione" xlink:label="ext_MargineDiIntermediazione" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_MargineDiIntermediazione" xlink:to="ext_MargineDiIntermediazione_lbl" xlink:type="arc"/>
      <link:label id="id_9677" xlink:label="ext_MargineDiIntermediazione_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Gross Income</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_OtherComprehensiveIncomeRelatedToNoncurrentAssetsAndDisposalGroupsClassifiedAsHeldForSaleToBeReclassifiedToProfitOrLoss" xlink:label="ext_OtherComprehensiveIncomeRelatedToNoncurrentAssetsAndDisposalGroupsClassifiedAsHeldForSaleToBeReclassifiedToProfitOrLoss" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_OtherComprehensiveIncomeRelatedToNoncurrentAssetsAndDisposalGroupsClassifiedAsHeldForSaleToBeReclassifiedToProfitOrLoss" xlink:to="ext_OtherComprehensiveIncomeRelatedToNoncurrentAssetsAndDisposalGroupsClassifiedAsHeldForSaleToBeReclassifiedToProfitOrLoss_lbl" xlink:type="arc"/>
      <link:label id="id_9679" xlink:label="ext_OtherComprehensiveIncomeRelatedToNoncurrentAssetsAndDisposalGroupsClassifiedAsHeldForSaleToBeReclassifiedToProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Other Comprehensive Income Related To Noncurrent Assets And Disposal Groups Classified As Held For Sale To Be Reclassified To Profit Or Loss</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_PassivitaFiscali" xlink:label="ext_PassivitaFiscali" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_PassivitaFiscali" xlink:to="ext_PassivitaFiscali_lbl" xlink:type="arc"/>
      <link:label id="id_9681" xlink:label="ext_PassivitaFiscali_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Tax Liabilities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_PreviousYearProfitLossAllocationReserves" xlink:label="ext_PreviousYearProfitLossAllocationReserves" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_PreviousYearProfitLossAllocationReserves" xlink:to="ext_PreviousYearProfitLossAllocationReserves_lbl" xlink:type="arc"/>
      <link:label id="id_9683" xlink:label="ext_PreviousYearProfitLossAllocationReserves_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Previous Year Profit Loss Allocation Reserves</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_ProventiDalleVenditeDiAttivitaMaterialiClassificateComeAttivitaDiInvestimento" xlink:label="ext_ProventiDalleVenditeDiAttivitaMaterialiClassificateComeAttivitaDiInvestimento" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_ProventiDalleVenditeDiAttivitaMaterialiClassificateComeAttivitaDiInvestimento" xlink:to="ext_ProventiDalleVenditeDiAttivitaMaterialiClassificateComeAttivitaDiInvestimento_lbl" xlink:type="arc"/>
      <link:label id="id_9684" xlink:label="ext_ProventiDalleVenditeDiAttivitaMaterialiClassificateComeAttivitaDiInvestimento_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Proceeds From Sales Of Tangible Assets Classified As Investing activities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_QuiescenzaEObblighiSimili" xlink:label="ext_QuiescenzaEObblighiSimili" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_QuiescenzaEObblighiSimili" xlink:to="ext_QuiescenzaEObblighiSimili_lbl" xlink:type="arc"/>
      <link:label id="id_9687" xlink:label="ext_QuiescenzaEObblighiSimili_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Post Retirement Benefit Obligation</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RedditivitaComplessivaAlNettoDelleImposteAttivitaImmateriali" xlink:label="ext_RedditivitaComplessivaAlNettoDelleImposteAttivitaImmateriali" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RedditivitaComplessivaAlNettoDelleImposteAttivitaImmateriali" xlink:to="ext_RedditivitaComplessivaAlNettoDelleImposteAttivitaImmateriali_lbl" xlink:type="arc"/>
      <link:label id="id_9688" xlink:label="ext_RedditivitaComplessivaAlNettoDelleImposteAttivitaImmateriali_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Other Comprehensive Income Net Of Tax Intangible Assets</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RedditivitaComplessivaAlNettoDelleImposteAttivitaMateriali" xlink:label="ext_RedditivitaComplessivaAlNettoDelleImposteAttivitaMateriali" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RedditivitaComplessivaAlNettoDelleImposteAttivitaMateriali" xlink:to="ext_RedditivitaComplessivaAlNettoDelleImposteAttivitaMateriali_lbl" xlink:type="arc"/>
      <link:label id="id_9690" xlink:label="ext_RedditivitaComplessivaAlNettoDelleImposteAttivitaMateriali_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Other Comprehensive Income Net Of Tax Tangible Assets</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RedditivitaComplessivaAlNettoDelleImposteStrumentiDiCoperturaElementiNonDesignati" xlink:label="ext_RedditivitaComplessivaAlNettoDelleImposteStrumentiDiCoperturaElementiNonDesignati" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RedditivitaComplessivaAlNettoDelleImposteStrumentiDiCoperturaElementiNonDesignati" xlink:to="ext_RedditivitaComplessivaAlNettoDelleImposteStrumentiDiCoperturaElementiNonDesignati_lbl" xlink:type="arc"/>
      <link:label id="id_9692" xlink:label="ext_RedditivitaComplessivaAlNettoDelleImposteStrumentiDiCoperturaElementiNonDesignati_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Other Comprehensive Income Net Of Tax On Hedging Instruments Non Designated Items</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RettificheDiValoreDellavviamento" xlink:label="ext_RettificheDiValoreDellavviamento" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RettificheDiValoreDellavviamento" xlink:to="ext_RettificheDiValoreDellavviamento_lbl" xlink:type="arc"/>
      <link:label id="id_9694" xlink:label="ext_RettificheDiValoreDellavviamento_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Goodwill impairment</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RettificheRipreseDiValoreNettePerRischioDiCreditoSuAttivitaFinanziarieValutateAlCostoAmmortizzatoInBaseAIFRS9" xlink:label="ext_RettificheRipreseDiValoreNettePerRischioDiCreditoSuAttivitaFinanziarieValutateAlCostoAmmortizzatoInBaseAIFRS9" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RettificheRipreseDiValoreNettePerRischioDiCreditoSuAttivitaFinanziarieValutateAlCostoAmmortizzatoInBaseAIFRS9" xlink:to="ext_RettificheRipreseDiValoreNettePerRischioDiCreditoSuAttivitaFinanziarieValutateAlCostoAmmortizzatoInBaseAIFRS9_lbl" xlink:type="arc"/>
      <link:label id="id_9697" xlink:label="ext_RettificheRipreseDiValoreNettePerRischioDiCreditoSuAttivitaFinanziarieValutateAlCostoAmmortizzatoInBaseAIFRS9_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Impairment Loss Impairment Gain And Reversal Of Impairment Loss Determined In Accordance With IFRS9 On Financial Assets At Amortised Cost</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RettificheRipreseDiValoreNettePerRischioDiCreditoSuAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessivaInBaseAIFRS9" xlink:label="ext_RettificheRipreseDiValoreNettePerRischioDiCreditoSuAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessivaInBaseAIFRS9" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RettificheRipreseDiValoreNettePerRischioDiCreditoSuAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessivaInBaseAIFRS9" xlink:to="ext_RettificheRipreseDiValoreNettePerRischioDiCreditoSuAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessivaInBaseAIFRS9_lbl" xlink:type="arc"/>
      <link:label id="id_9699" xlink:label="ext_RettificheRipreseDiValoreNettePerRischioDiCreditoSuAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessivaInBaseAIFRS9_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Impairment Loss Impairment Gain And Reversal Of Impairment Loss Determined In Accordance With IFRS9 On Financial Assets At Fair Value Through Other Comprehensive Income</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RettificheRipreseDiValoreNetteSuAttivitaImmaterialiRilevateAContoEconomico" xlink:label="ext_RettificheRipreseDiValoreNetteSuAttivitaImmaterialiRilevateAContoEconomico" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RettificheRipreseDiValoreNetteSuAttivitaImmaterialiRilevateAContoEconomico" xlink:to="ext_RettificheRipreseDiValoreNetteSuAttivitaImmaterialiRilevateAContoEconomico_lbl" xlink:type="arc"/>
      <link:label id="id_9701" xlink:label="ext_RettificheRipreseDiValoreNetteSuAttivitaImmaterialiRilevateAContoEconomico_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Depreciation Amortisation And Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss Intangible Assets Other Than Goodwill</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RiserveDaValutazione" xlink:label="ext_RiserveDaValutazione" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RiserveDaValutazione" xlink:to="ext_RiserveDaValutazione_lbl" xlink:type="arc"/>
      <link:label id="id_9702" xlink:label="ext_RiserveDaValutazione_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Valuation Reserves</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RiserveTecnicheACaricoDeiRiassicuratori" xlink:label="ext_RiserveTecnicheACaricoDeiRiassicuratori" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RiserveTecnicheACaricoDeiRiassicuratori" xlink:to="ext_RiserveTecnicheACaricoDeiRiassicuratori_lbl" xlink:type="arc"/>
      <link:label id="id_9704" xlink:label="ext_RiserveTecnicheACaricoDeiRiassicuratori_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Insurance Reserves Charged To Reinsurers</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RiserveTecnicheDaContrattiAssicurativi" xlink:label="ext_RiserveTecnicheDaContrattiAssicurativi" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RiserveTecnicheDaContrattiAssicurativi" xlink:to="ext_RiserveTecnicheDaContrattiAssicurativi_lbl" xlink:type="arc"/>
      <link:label id="id_9706" xlink:label="ext_RiserveTecnicheDaContrattiAssicurativi_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Provisions Arising From Insurance Contracts</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RisultatoNettoDellaAttivitaDiCopertura" xlink:label="ext_RisultatoNettoDellaAttivitaDiCopertura" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RisultatoNettoDellaAttivitaDiCopertura" xlink:to="ext_RisultatoNettoDellaAttivitaDiCopertura_lbl" xlink:type="arc"/>
      <link:label id="id_9709" xlink:label="ext_RisultatoNettoDellaAttivitaDiCopertura_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Net Gains Losses From Hedge Accounting</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RisultatoNettoDellaGestioneFinanziaria" xlink:label="ext_RisultatoNettoDellaGestioneFinanziaria" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RisultatoNettoDellaGestioneFinanziaria" xlink:to="ext_RisultatoNettoDellaGestioneFinanziaria_lbl" xlink:type="arc"/>
      <link:label id="id_9711" xlink:label="ext_RisultatoNettoDellaGestioneFinanziaria_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Net Profit From Financial Activities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RisultatoNettoDellaGestioneFinanziariaEAssicurativa" xlink:label="ext_RisultatoNettoDellaGestioneFinanziariaEAssicurativa" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RisultatoNettoDellaGestioneFinanziariaEAssicurativa" xlink:to="ext_RisultatoNettoDellaGestioneFinanziariaEAssicurativa_lbl" xlink:type="arc"/>
      <link:label id="id_9713" xlink:label="ext_RisultatoNettoDellaGestioneFinanziariaEAssicurativa_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Profit Loss From Financial And Insurance Activities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RisultatoNettoDellaValutazioneAlFairValueDelleAttivitaMaterialiEImmaterialiDiverseDallavviamento" xlink:label="ext_RisultatoNettoDellaValutazioneAlFairValueDelleAttivitaMaterialiEImmaterialiDiverseDallavviamento" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RisultatoNettoDellaValutazioneAlFairValueDelleAttivitaMaterialiEImmaterialiDiverseDallavviamento" xlink:to="ext_RisultatoNettoDellaValutazioneAlFairValueDelleAttivitaMaterialiEImmaterialiDiverseDallavviamento_lbl" xlink:type="arc"/>
      <link:label id="id_9714" xlink:label="ext_RisultatoNettoDellaValutazioneAlFairValueDelleAttivitaMaterialiEImmaterialiDiverseDallavviamento_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Gains Losses On Tangible And Intangible Assets Other Than Goodwill Measured At Fair Value</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RisultatoNettoDelleAltreAttivitaPassivitaFinanziarieValutateAlFairValueConImpattoAContoEconomico" xlink:label="ext_RisultatoNettoDelleAltreAttivitaPassivitaFinanziarieValutateAlFairValueConImpattoAContoEconomico" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RisultatoNettoDelleAltreAttivitaPassivitaFinanziarieValutateAlFairValueConImpattoAContoEconomico" xlink:to="ext_RisultatoNettoDelleAltreAttivitaPassivitaFinanziarieValutateAlFairValueConImpattoAContoEconomico_lbl" xlink:type="arc"/>
      <link:label id="id_9717" xlink:label="ext_RisultatoNettoDelleAltreAttivitaPassivitaFinanziarieValutateAlFairValueConImpattoAContoEconomico_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Net Gains Losses On Other Financial Assets Liabilities At Fair Value Through Profit Or Loss</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_SpeseAmministrativeAltreSpeseAmministrative" xlink:label="ext_SpeseAmministrativeAltreSpeseAmministrative" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_SpeseAmministrativeAltreSpeseAmministrative" xlink:to="ext_SpeseAmministrativeAltreSpeseAmministrative_lbl" xlink:type="arc"/>
      <link:label id="id_9718" xlink:label="ext_SpeseAmministrativeAltreSpeseAmministrative_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Other Administrative Expense</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_SpeseAmministrativeSpesePerIlPersonale" xlink:label="ext_SpeseAmministrativeSpesePerIlPersonale" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_SpeseAmministrativeSpesePerIlPersonale" xlink:to="ext_SpeseAmministrativeSpesePerIlPersonale_lbl" xlink:type="arc"/>
      <link:label id="id_9720" xlink:label="ext_SpeseAmministrativeSpesePerIlPersonale_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Administrative Expense Staff Costs</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_StrumentiDiCapitale" xlink:label="ext_StrumentiDiCapitale" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_StrumentiDiCapitale" xlink:to="ext_StrumentiDiCapitale_lbl" xlink:type="arc"/>
      <link:label id="id_9722" xlink:label="ext_StrumentiDiCapitale_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Equity Instruments</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_TotalEquity" xlink:label="ext_TotalEquity" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_TotalEquity" xlink:to="ext_TotalEquity_lbl" xlink:type="arc"/>
      <link:label id="id_9725" xlink:label="ext_TotalEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Total Equity</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_TotalEquityAttributableToOwnersOfParent" xlink:label="ext_TotalEquityAttributableToOwnersOfParent" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_TotalEquityAttributableToOwnersOfParent" xlink:to="ext_TotalEquityAttributableToOwnersOfParent_lbl" xlink:type="arc"/>
      <link:label id="id_9727" xlink:label="ext_TotalEquityAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Total Equity Attributable To Owners Of Parent</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_TotalNonControllingInterests" xlink:label="ext_TotalNonControllingInterests" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_TotalNonControllingInterests" xlink:to="ext_TotalNonControllingInterests_lbl" xlink:type="arc"/>
      <link:label id="id_9729" xlink:label="ext_TotalNonControllingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Total Non controlling Interests</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_TrattamentoDiFineRapportoDelPersonale" xlink:label="ext_TrattamentoDiFineRapportoDelPersonale" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_TrattamentoDiFineRapportoDelPersonale" xlink:to="ext_TrattamentoDiFineRapportoDelPersonale_lbl" xlink:type="arc"/>
      <link:label id="id_9730" xlink:label="ext_TrattamentoDiFineRapportoDelPersonale_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Provision For Employee Severances Pay</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_UtilePerditaDaCessioneDiAttivitaFinanziarieAlCostoAmmortizzato" xlink:label="ext_UtilePerditaDaCessioneDiAttivitaFinanziarieAlCostoAmmortizzato" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_UtilePerditaDaCessioneDiAttivitaFinanziarieAlCostoAmmortizzato" xlink:to="ext_UtilePerditaDaCessioneDiAttivitaFinanziarieAlCostoAmmortizzato_lbl" xlink:type="arc"/>
      <link:label id="id_9732" xlink:label="ext_UtilePerditaDaCessioneDiAttivitaFinanziarieAlCostoAmmortizzato_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Gain Loss Arising From Disposal Of Financial Assets Measured At Amortised Cost</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_UtilePerditaDaCessioneDiAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessiva" xlink:label="ext_UtilePerditaDaCessioneDiAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessiva" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_UtilePerditaDaCessioneDiAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessiva" xlink:to="ext_UtilePerditaDaCessioneDiAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessiva_lbl" xlink:type="arc"/>
      <link:label id="id_9734" xlink:label="ext_UtilePerditaDaCessioneDiAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessiva_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Gain Loss On Disposals Of Financial Assets At Fair Value Through Other Comprehensive Income</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_UtilePerditaDaRiacquistoDiPassivitaFinanziarie" xlink:label="ext_UtilePerditaDaRiacquistoDiPassivitaFinanziarie" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_UtilePerditaDaRiacquistoDiPassivitaFinanziarie" xlink:to="ext_UtilePerditaDaRiacquistoDiPassivitaFinanziarie_lbl" xlink:type="arc"/>
      <link:label id="id_9736" xlink:label="ext_UtilePerditaDaRiacquistoDiPassivitaFinanziarie_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Gain Loss Arising From Repurchase Of Financial Liabilities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_UtilePerditaDiPertinenzaDellaCapogruppo" xlink:label="ext_UtilePerditaDiPertinenzaDellaCapogruppo" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_UtilePerditaDiPertinenzaDellaCapogruppo" xlink:to="ext_UtilePerditaDiPertinenzaDellaCapogruppo_lbl" xlink:type="arc"/>
      <link:label id="id_9738" xlink:label="ext_UtilePerditaDiPertinenzaDellaCapogruppo_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Total Profit (loss), attributable to owners of parent</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_UtiliPerditeDaAttivitaEPassivitaFinanziarieDesignateAlFairValueConImpattoAContoEconomico" xlink:label="ext_UtiliPerditeDaAttivitaEPassivitaFinanziarieDesignateAlFairValueConImpattoAContoEconomico" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_UtiliPerditeDaAttivitaEPassivitaFinanziarieDesignateAlFairValueConImpattoAContoEconomico" xlink:to="ext_UtiliPerditeDaAttivitaEPassivitaFinanziarieDesignateAlFairValueConImpattoAContoEconomico_lbl" xlink:type="arc"/>
      <link:label id="id_9740" xlink:label="ext_UtiliPerditeDaAttivitaEPassivitaFinanziarieDesignateAlFairValueConImpattoAContoEconomico_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Gains Losses On Financial Assets Liabilities Designated At Fair ValueThrough Profit Or Loss</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_UtiliPerditeDaAttivitaPassivitaFinanziarieObbligatoriamenteValutateAlFairValueConImpattoAContoEconomico" xlink:label="ext_UtiliPerditeDaAttivitaPassivitaFinanziarieObbligatoriamenteValutateAlFairValueConImpattoAContoEconomico" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_UtiliPerditeDaAttivitaPassivitaFinanziarieObbligatoriamenteValutateAlFairValueConImpattoAContoEconomico" xlink:to="ext_UtiliPerditeDaAttivitaPassivitaFinanziarieObbligatoriamenteValutateAlFairValueConImpattoAContoEconomico_lbl" xlink:type="arc"/>
      <link:label id="id_9742" xlink:label="ext_UtiliPerditeDaAttivitaPassivitaFinanziarieObbligatoriamenteValutateAlFairValueConImpattoAContoEconomico_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Gains Losses On Financial Assets Liabilities Mandatorily At Fair Value Through Profit Or Loss</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_UtiliPerditeDaCessioneORiacquistoDiAttivitaEPassivitaFinanziarie" xlink:label="ext_UtiliPerditeDaCessioneORiacquistoDiAttivitaEPassivitaFinanziarie" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_UtiliPerditeDaCessioneORiacquistoDiAttivitaEPassivitaFinanziarie" xlink:to="ext_UtiliPerditeDaCessioneORiacquistoDiAttivitaEPassivitaFinanziarie_lbl" xlink:type="arc"/>
      <link:label id="id_9745" xlink:label="ext_UtiliPerditeDaCessioneORiacquistoDiAttivitaEPassivitaFinanziarie_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Gains Losses On Disposals and Repurchase Of Financial Assets and Liabilities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_UtiliPerditeDaModificheContrattualiSenzaCancellazioni" xlink:label="ext_UtiliPerditeDaModificheContrattualiSenzaCancellazioni" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_UtiliPerditeDaModificheContrattualiSenzaCancellazioni" xlink:to="ext_UtiliPerditeDaModificheContrattualiSenzaCancellazioni_lbl" xlink:type="arc"/>
      <link:label id="id_9747" xlink:label="ext_UtiliPerditeDaModificheContrattualiSenzaCancellazioni_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Gains Losses From Contractual Changes Without derecognition</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AltreRiserveMember" xlink:label="ext_AltreRiserveMember" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AltreRiserveMember" xlink:to="ext_AltreRiserveMember_lbl" xlink:type="arc"/>
      <link:label id="id_9748" xlink:label="ext_AltreRiserveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Reserves Not From Profit Not From Valuation Member</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_AzioniProprieMember" xlink:label="ext_AzioniProprieMember" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AzioniProprieMember" xlink:to="ext_AzioniProprieMember_lbl" xlink:type="arc"/>
      <link:label id="id_9750" xlink:label="ext_AzioniProprieMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Total Treasury Shares Member</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_CapitaleAltreAzioniMember" xlink:label="ext_CapitaleAltreAzioniMember" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_CapitaleAltreAzioniMember" xlink:to="ext_CapitaleAltreAzioniMember_lbl" xlink:type="arc"/>
      <link:label id="id_9753" xlink:label="ext_CapitaleAltreAzioniMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Other Shares Member</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_CapitaleAzioniOrdinarieMember" xlink:label="ext_CapitaleAzioniOrdinarieMember" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_CapitaleAzioniOrdinarieMember" xlink:to="ext_CapitaleAzioniOrdinarieMember_lbl" xlink:type="arc"/>
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      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_RiserveDaUtiliMember" xlink:label="ext_RiserveDaUtiliMember" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RiserveDaUtiliMember" xlink:to="ext_RiserveDaUtiliMember_lbl" xlink:type="arc"/>
      <link:label id="id_9760" xlink:label="ext_RiserveDaUtiliMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Reserves From Profit Member</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_SovrapprezziDiEmissioneMember" xlink:label="ext_SovrapprezziDiEmissioneMember" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_SovrapprezziDiEmissioneMember" xlink:to="ext_SovrapprezziDiEmissioneMember_lbl" xlink:type="arc"/>
      <link:label id="id_9762" xlink:label="ext_SovrapprezziDiEmissioneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Reserves From Share Premium Member</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2022-06-30.xsd#ext_UtilePerditaDiEsercizioMember" xlink:label="ext_UtilePerditaDiEsercizioMember" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_UtilePerditaDiEsercizioMember" xlink:to="ext_UtilePerditaDiEsercizioMember_lbl" xlink:type="arc"/>
      <link:label id="id_9764" xlink:label="ext_UtilePerditaDiEsercizioMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Total Profit Loss Member</link:label>

   </link:labelLink>

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