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Bilateral facet hypertrophy is a kind of arthritis of the vertebrae
The disk protrusion is a herniation of the disk but since it's small it isn't pressing on a nerve root or on the spinal cord.
Anterolisthesis is one vertebra moving forward on another.
None of this is a surgical matter but I wouldn't just suggest exercise unless you see a physical therapist first.
And actually I would refer you to a physiatrist--a physical medicine and rehabilitation MD specialist--for a treatment program that would help with any back pain you may be having
Please let me know if you need any more information