<link:linkbase
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   <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">

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      <link:label id="id_10776" xlink:label="ext_AccantonamentiNettiAiFondiPerRischiEOneriPerImpegniEGaranzieRilasciate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Net Provisions For Risks And Charges Commitments And Financial Guarantees Given</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_AccontiSuDividendi" xlink:label="ext_AccontiSuDividendi" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AccontiSuDividendi" xlink:to="ext_AccontiSuDividendi_lbl" xlink:type="arc"/>
      <link:label id="id_10779" xlink:label="ext_AccontiSuDividendi_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Interim dividends</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_AcquistiDiAttivitaMaterialiClassificateComeAttivitaDiInvestimento" xlink:label="ext_AcquistiDiAttivitaMaterialiClassificateComeAttivitaDiInvestimento" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AcquistiDiAttivitaMaterialiClassificateComeAttivitaDiInvestimento" xlink:to="ext_AcquistiDiAttivitaMaterialiClassificateComeAttivitaDiInvestimento_lbl" xlink:type="arc"/>
      <link:label id="id_10780" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10782" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10785" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_AllocazioneRisultatoEsercizioPrecedenteRiserve" xlink:label="ext_AllocazioneRisultatoEsercizioPrecedenteRiserve" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AllocazioneRisultatoEsercizioPrecedenteRiserve" xlink:to="ext_AllocazioneRisultatoEsercizioPrecedenteRiserve_lbl" xlink:type="arc"/>
      <link:label id="id_10788" xlink:label="ext_AllocazioneRisultatoEsercizioPrecedenteRiserve_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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10789" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10791" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10793" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10795" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10797" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10800" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_AssetsFairValueChangesOfTheHedgedItemsInPortfolioHedgeOfInterestRateRisk" xlink:label="ext_AssetsFairValueChangesOfTheHedgedItemsInPortfolioHedgeOfInterestRateRisk" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AssetsFairValueChangesOfTheHedgedItemsInPortfolioHedgeOfInterestRateRisk" xlink:to="ext_AssetsFairValueChangesOfTheHedgedItemsInPortfolioHedgeOfInterestRateRisk_lbl" xlink:type="arc"/>
      <link:label id="id_10802" xlink:label="ext_AssetsFairValueChangesOfTheHedgedItemsInPortfolioHedgeOfInterestRateRisk_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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_AttivitàAssicurative" xlink:label="ext_AttivitàAssicurative" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_AttivitàAssicurative" xlink:to="ext_AttivitàAssicurative_lbl" xlink:type="arc"/>
      <link:label id="id_10803" xlink:label="ext_AttivitàAssicurative_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">InsuranceAssets</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10806" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10807" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10809" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10811" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_CashFlowsUsedInInvestingActivities" xlink:label="ext_CashFlowsUsedInInvestingActivities" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_CashFlowsUsedInInvestingActivities" xlink:to="ext_CashFlowsUsedInInvestingActivities_lbl" xlink:type="arc"/>
      <link:label id="id_10814" xlink:label="ext_CashFlowsUsedInInvestingActivities_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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10816" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10818" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10821" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10822" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_DecrementiIncrementiDiAttivitaFinanziarieDesignateAlFairValue" xlink:label="ext_DecrementiIncrementiDiAttivitaFinanziarieDesignateAlFairValue" xlink:type="locator"/>
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      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_DecrementiIncrementiDiAttivitaFinanziarieValutateAlCostoAmmortizzato" xlink:label="ext_DecrementiIncrementiDiAttivitaFinanziarieValutateAlCostoAmmortizzato" xlink:type="locator"/>
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      <link:label id="id_10826" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_DecrementiIncrementiDiAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessiva" xlink:label="ext_DecrementiIncrementiDiAttivitaFinanziarieValutateAlFairValueConImpattoSullaRedditivitaComplessiva" xlink:type="locator"/>
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      <link:label id="id_10828" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_DerivatiSuAzioniProprie" xlink:label="ext_DerivatiSuAzioniProprie" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_DerivatiSuAzioniProprie" xlink:to="ext_DerivatiSuAzioniProprie_lbl" xlink:type="arc"/>
      <link:label id="id_10831" xlink:label="ext_DerivatiSuAzioniProprie_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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10832" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10834" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_DistribuzioneStraordinariaDividendi" xlink:label="ext_DistribuzioneStraordinariaDividendi" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_DistribuzioneStraordinariaDividendi" xlink:to="ext_DistribuzioneStraordinariaDividendi_lbl" xlink:type="arc"/>
      <link:label id="id_10837" xlink:label="ext_DistribuzioneStraordinariaDividendi_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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10840" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10842" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_IncrementiDecrementiDiRiserve" xlink:label="ext_IncrementiDecrementiDiRiserve" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_IncrementiDecrementiDiRiserve" xlink:to="ext_IncrementiDecrementiDiRiserve_lbl" xlink:type="arc"/>
      <link:label id="id_10845" xlink:label="ext_IncrementiDecrementiDiRiserve_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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10846" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10849" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10851" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10852" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_LiquiditàGenerataassorbitaDaiContrattiDiAssicurazioneEmessiEDalleCessioniInRiassicurazione" xlink:label="ext_LiquiditàGenerataassorbitaDaiContrattiDiAssicurazioneEmessiEDalleCessioniInRiassicurazione" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_LiquiditàGenerataassorbitaDaiContrattiDiAssicurazioneEmessiEDalleCessioniInRiassicurazione" xlink:to="ext_LiquiditàGenerataassorbitaDaiContrattiDiAssicurazioneEmessiEDalleCessioniInRiassicurazione_lbl" xlink:type="arc"/>
      <link:label id="id_10854" xlink:label="ext_LiquiditàGenerataassorbitaDaiContrattiDiAssicurazioneEmessiEDalleCessioniInRiassicurazione_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">CashFlowsFromUsedInInsuranceReinsuranceContracts</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10856" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10858" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10860" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10863" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10865" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_NetCashFlowsFromInsuranceContractsIssuedWhichAreLiabilitiesAssets" xlink:label="ext_NetCashFlowsFromInsuranceContractsIssuedWhichAreLiabilitiesAssets" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_NetCashFlowsFromInsuranceContractsIssuedWhichAreLiabilitiesAssets" xlink:to="ext_NetCashFlowsFromInsuranceContractsIssuedWhichAreLiabilitiesAssets_lbl" xlink:type="arc"/>
      <link:label id="id_10867" xlink:label="ext_NetCashFlowsFromInsuranceContractsIssuedWhichAreLiabilitiesAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">NetCashFlowsFromInsuranceContractsIssuedWhichAreLiabilitiesAssets</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_NetCashFlowsFromReinsuranceCessionsConstitutingAssetsLiabilities" xlink:label="ext_NetCashFlowsFromReinsuranceCessionsConstitutingAssetsLiabilities" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_NetCashFlowsFromReinsuranceCessionsConstitutingAssetsLiabilities" xlink:to="ext_NetCashFlowsFromReinsuranceCessionsConstitutingAssetsLiabilities_lbl" xlink:type="arc"/>
      <link:label id="id_10869" xlink:label="ext_NetCashFlowsFromReinsuranceCessionsConstitutingAssetsLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">NetCashFlowsFromReinsuranceCessionsConstitutingAssetsLiabilities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_PassivitàAssicurative" xlink:label="ext_PassivitàAssicurative" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_PassivitàAssicurative" xlink:to="ext_PassivitàAssicurative_lbl" xlink:type="arc"/>
      <link:label id="id_10870" xlink:label="ext_PassivitàAssicurative_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">InsuranceLiabilities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10873" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10874" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10877" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10878" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10880" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10882" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_RedditivitaComplessivaRelativaAdAttivitaNonCorrentiEGruppiDiAttivitaInViaDiDismissioneClassificatiComeDisponibiliPerLaVenditaDaRiclassificareAContoEconomico" xlink:label="ext_RedditivitaComplessivaRelativaAdAttivitaNonCorrentiEGruppiDiAttivitaInViaDiDismissioneClassificatiComeDisponibiliPerLaVenditaDaRiclassificareAContoEconomico" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RedditivitaComplessivaRelativaAdAttivitaNonCorrentiEGruppiDiAttivitaInViaDiDismissioneClassificatiComeDisponibiliPerLaVenditaDaRiclassificareAContoEconomico" xlink:to="ext_RedditivitaComplessivaRelativaAdAttivitaNonCorrentiEGruppiDiAttivitaInViaDiDismissioneClassificatiComeDisponibiliPerLaVenditaDaRiclassificareAContoEconomico_lbl" xlink:type="arc"/>
      <link:label id="id_10885" xlink:label="ext_RedditivitaComplessivaRelativaAdAttivitaNonCorrentiEGruppiDiAttivitaInViaDiDismissioneClassificatiComeDisponibiliPerLaVenditaDaRiclassificareAContoEconomico_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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10886" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10889" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10891" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10893" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_RettificheRipreseDiValoreNetteSuAttivitaMaterialiRilevateAContoEconomico" xlink:label="ext_RettificheRipreseDiValoreNetteSuAttivitaMaterialiRilevateAContoEconomico" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RettificheRipreseDiValoreNetteSuAttivitaMaterialiRilevateAContoEconomico" xlink:to="ext_RettificheRipreseDiValoreNetteSuAttivitaMaterialiRilevateAContoEconomico_lbl" xlink:type="arc"/>
      <link:label id="id_10895" xlink:label="ext_RettificheRipreseDiValoreNetteSuAttivitaMaterialiRilevateAContoEconomico_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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10896" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10899" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10901" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10903" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10904" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10907" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_SaldoAltriProventiOneriDellaGestioneAssicurativa" xlink:label="ext_SaldoAltriProventiOneriDellaGestioneAssicurativa" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_SaldoAltriProventiOneriDellaGestioneAssicurativa" xlink:to="ext_SaldoAltriProventiOneriDellaGestioneAssicurativa_lbl" xlink:type="arc"/>
      <link:label id="id_10908" xlink:label="ext_SaldoAltriProventiOneriDellaGestioneAssicurativa_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">BalanceOfFinanceIncomeExpensesFromInsuranceActivities</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10910" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10912" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10914" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10917" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10919" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10921" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10922" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10924" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10926" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10928" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10930" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10932" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_UtiliPerditeDaAttivitaPassivitaFinanziarieObbligatoriamenteValutateAlFairValueConImpattoAContoEconomico" xlink:label="ext_UtiliPerditeDaAttivitaPassivitaFinanziarieObbligatoriamenteValutateAlFairValueConImpattoAContoEconomico" xlink:type="locator"/>
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      <link:label id="id_10934" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10937" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10939" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_UtiliPerditeSuAttivitaFinanziarieDiverseDaiTitoliDiCapitaleValutateAlFairValueConImpattoSullaRedditivitaComplessivaAlNettoDelleImposte" xlink:label="ext_UtiliPerditeSuAttivitaFinanziarieDiverseDaiTitoliDiCapitaleValutateAlFairValueConImpattoSullaRedditivitaComplessivaAlNettoDelleImposte" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_UtiliPerditeSuAttivitaFinanziarieDiverseDaiTitoliDiCapitaleValutateAlFairValueConImpattoSullaRedditivitaComplessivaAlNettoDelleImposte" xlink:to="ext_UtiliPerditeSuAttivitaFinanziarieDiverseDaiTitoliDiCapitaleValutateAlFairValueConImpattoSullaRedditivitaComplessivaAlNettoDelleImposte_lbl" xlink:type="arc"/>
      <link:label id="id_10941" xlink:label="ext_UtiliPerditeSuAttivitaFinanziarieDiverseDaiTitoliDiCapitaleValutateAlFairValueConImpattoSullaRedditivitaComplessivaAlNettoDelleImposte_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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_VariazioneStrumentiDiCapitale" xlink:label="ext_VariazioneStrumentiDiCapitale" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_VariazioneStrumentiDiCapitale" xlink:to="ext_VariazioneStrumentiDiCapitale_lbl" xlink:type="arc"/>
      <link:label id="id_10943" xlink:label="ext_VariazioneStrumentiDiCapitale_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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10944" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10946" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_Capitale" xlink:label="ext_Capitale" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_Capitale" xlink:to="ext_Capitale_lbl" xlink:type="arc"/>
      <link:label id="id_10949" xlink:label="ext_Capitale_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Capital</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10950" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.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"/>
      <link:label id="id_10952" xlink:label="ext_CapitaleAzioniOrdinarieMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Total Ordinary Shares Member</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_Riserve" xlink:label="ext_Riserve" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_Riserve" xlink:to="ext_Riserve_lbl" xlink:type="arc"/>
      <link:label id="id_10957" xlink:label="ext_Riserve_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">Reserves</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10958" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_RiserveDaValutazioneMember" xlink:label="ext_RiserveDaValutazioneMember" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_RiserveDaValutazioneMember" xlink:to="ext_RiserveDaValutazioneMember_lbl" xlink:type="arc"/>
      <link:label id="id_10960" xlink:label="ext_RiserveDaValutazioneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">ValuationReservesMember</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10962" 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="PSNL19R2RXX5U3QWHI44-2025-06-30.xsd#ext_StrumentiDiCapitaleMember" xlink:label="ext_StrumentiDiCapitaleMember" xlink:type="locator"/>
      <link:labelArc order="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ext_StrumentiDiCapitaleMember" xlink:to="ext_StrumentiDiCapitaleMember_lbl" xlink:type="arc"/>
      <link:label id="id_10964" xlink:label="ext_StrumentiDiCapitaleMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en">EquityInstrumentsMember</link:label>

      <link:loc xlink:href="PSNL19R2RXX5U3QWHI44-2025-06-30.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_10966" 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>

</link:linkbase>