Amendment to Schedule 13G Filing by Raymond James & Associates for Perma-Pipe International Holdings, Inc.

Raymond James & Associates has filed an amendment to its Schedule 13G for Perma-Pipe International Holdings, Inc., reporting beneficial ownership of 611,821 shares of common stock, representing 7.6% of the total shares. The filing indicates that the shares were acquired and are held in the ordinary course of business, with no intent to influence control of the issuer. The amendment was signed by Rachel Jacobson, Manager of Operations, on October 31, 2025. The filing is made under Rule 13d-1(b) and includes details such as the issuer's principal executive office address and the reporting person's citizenship and business address.