If you want the result to add the results as given, i.e. for a result of 16-01 try
=TEXT((SUMPRODUCT(LEFT(C2:C4,2)+0)+INT(SUMPRODUCT(RIGHT(C2:C4,2)+0)/12))*100+MOD(SUMPRODUCT(RIGHT(C2:C4,2)+0),12),"00-00")
You can extend the range to cope with any number of sets
You could use this formula based on the original dates:
=TEXT(DATEDIF(0,SUM(B2:B4)-SUM(A2:A4),"y")*100+DATEDIF(0,SUM(B2:B4)-SUM(A2:A4),"ym"),"00-00")
but this won't necessarily give you the same result. This is because your column C formula is effectively rounding everything down, a difference of 110 days becomes just 00-03 so two differences of 110 days sums to 00-06. The second formula gives 00-07 because the total, 220 days, is in fact 7 months