  The most general formulation of Penrose's inequality yields a lower bound for
ADM mass in terms of the area, charge, and angular momentum of black holes.
This inequality is in turn equivalent to an upper and lower bound for the area
in terms of the remaining quantities. In this note, we establish the lower
bound for a single black hole in the setting of axisymmetric maximal initial
data sets for the Einstein-Maxwell equations, when the non-electromagnetic
matter fields are not charged and satisfy the dominant energy condition. It is
shown that the inequality is saturated if and only if the initial data arise
from the extreme Kerr-Newman spacetime. Further refinements are given when
either charge or angular momentum vanish. Lastly, we discuss the validity of
the lower bound in the presence of multiple black holes.
