Correct answer: I₁ω₁ + I₂ω₂
The angular momentum of a system is calculated as the sum of the individual angular momenta, which is given by I₁ω₁ + I₂ω₂. Here, I₁ and I₂ are the moments of inertia of the two masses, and ω₁ and ω₂ are their respective angular velocities.