What must you anticipate with this road sign?

Your choice (answer 1: “With cyclists who may cross the carriageway”) is correct.

This triangular red-bordered sign is a warning sign. It does not order cyclists to do anything and it does not mean “cyclists prohibited.” It simply warns drivers that cyclists may appear and cross your path ahead, for example where a cycle path crosses the road or near an exit from a cycle track.

What to do in practice: reduce speed early, look carefully to both sides for cyclists, be ready to brake, and pass the area with extra caution because cyclists can be fast, hard to judge, and may enter the roadway unexpectedly.